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Thailand sets 2.57 trillion baht budget

Thailand has allocated 2.575 trillion baht for its national budget for the fiscal year 2015. The budget will have a deficit of 250 billion baht and is based on a gross domestic product growth of between 3.5 and 4.5 per cent and an inflation rate under 2.3 per cent.

BANGKOK: Thailand has allocated 2.575 trillion baht for its national budget for the fiscal year 2015.

The budget will have a deficit of 250 billion baht and is based on a gross domestic product growth of between 3.5 and 4.5 per cent and an inflation rate under 2.3 per cent.

The Bureau of Budget Director Somsak Chotrattanasiri said the National Council for Peace and Order (NCPO) on Tuesday approved the draft of the details of allocation for government agencies.

He said this after the weekly NCPO meeting chaired by General Prayuth Chan-ocha at the army club in Bangkok.

Among the biggest beneficiary of the allocation will be the Ministry of Education, which received a 3.2 per cent increase in allocation to 498.16 billion baht, the central budget increased 8.6 per cent to 372.74 billion baht and the interior ministry's allocation rose 2.4 per cent to 341.16 billion baht.

The defence ministry's budget was increased 5 per cent to 193.065 billion baht but the allocation for the Ministry of Finance was slashed 8.6 per cent to 186.216 billion baht. 

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