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BANGKOK, June 5: Thailand's cabinet on Tuesday approved a budget worth 1.66 trillion baht ($48 billion) in the next fiscal year starting October, incurring a deficit for the second consecutive year.
Army-installed Prime Minister Surayud Chulanont's cabinet endorsed the budget on the assumption that Thailand's economy would grow by around five per cent during the next fiscal year, an official said.The government, which came to power after a coup in September 2006, estimated next fiscal year's budget deficit would reach around 165.5 billion baht, equal to 1.8 per cent of the Thai economy, the official said.—AFP
