Budget Bureau expects lower 2017 deficit than in fiscal 2016
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THE 2017 fiscal budget deficit is expected to be lower than fiscal 2016's Bt390 billion as the government is expected to collect more revenue, such as income from the auctions of 4G telecom licences, the Budget Bureau says.
Meanwhile, the public-private partnership scheme and the ongoing reforms in budget allocation are expected to help lower the government’s investment costs in 2016.
The bureau is confident that revenue collections for fiscal 2016, which are estimated at around Bt2.33 trillion, will meet expectations. The budget for fiscal 2016, which began last month, was set at Bt2.72 trillion.
“The estimated income for fiscal 2016 is pretty high,” Budget Bureau director Somsak Chotrattanasiri told reporters after a permanent secretaries’ meeting with Prime Minister Prayut Chan-o-cha at the bureau Friday.
