Thailand Expects THB3.48 Trillion FY2024 Budget to Be Ready in May

Thailand is expecting its 2024 fiscal budget of 3.48 trillion baht to be ready in early May, which would be about a seven-month delay from the fiscal year that began on October 1st, according to Deputy Finance Minister Julapun Amornvivat on Wednesday.

The delay was due to the political vacuum in Thailand after the general election in May that took several months for the kingdom to finally settle with the Pheu Thai Party at the core of this government.


Meanwhile, a senior government official said that Thailand will stick with the previous plan of raising the average daily minimum wage that they agreed upon, despite earlier comment from the prime minister to reconsider the plan as some parts of the region are expected to see a very small margin of raise, which would not make any difference in this age.

It was resolved a few weeks ago that Thailand will raise its average daily minimum wage to 330 baht to 370 baht, which is equivalent to only about 2.37% raise.

Still, a senior official noted that there will be two raises next year.