Bangkok: Prime Minister Anutin Charnvirakul is in the process of reviewing the 2027 budget, concentrating on cutting unnecessary expenses and maintaining fiscal discipline in response to economic volatility and the ongoing energy crisis. The budget is set to be submitted to the Cabinet on April 28.
According to Thai News Agency, the Prime Minister chaired a meeting with four key agencies- the Ministry of Finance, the Budget Bureau, the National Economic and Social Development Council (NESDC), and the Bank of Thailand- to outline the 2027 budget policy. The proposed budget stands at 3.788 trillion baht, reflecting an increase of 7.4 billion baht or 0.2 percent from the previous year. Projected net revenue is expected to rise by 79.4 billion baht or 2.7 percent to reach 3 trillion baht. The budget deficit is forecasted to decrease by 72 billion baht or 8.4 percent, aligning with the medium-term fiscal plan approved by the Cabinet in November 2025.
The budget review aims to equip the government with the ability to implement key policies effectively, especially amid the volatile global environment influenced by the Middle East conflict, which impacts global energy security and the economy. The government is focusing on improving public sector efficiency while preserving economic stability and strengthening fiscal standing, necessitating cuts to budget items that do not align with current conditions.
The 2027 annual budget of 3.788 trillion baht seeks to support government policies amid global uncertainties affecting energy security and economic stability. Agencies receiving the budget are directed to prioritize off-budget funds and explore alternative funding sources, such as loans, public-private partnerships, and the Thailand Future Infrastructure Fund, to reduce the national budget burden. The Budget Bureau plans to present the 2027 annual budget to the Cabinet for consideration on April 28, 2026.
Prime Minister Anutin emphasized the importance of a "targeted and accurate" budget that aligns with the "10 Plus" policy objectives and adheres to cost-effectiveness principles and Zero-based Budgeting. Any requests for additional budget allocations should not exceed 20 percent of the previous year's budget and should be solely for capital expenditures, ensuring maximum benefit for the people and comprehensive coverage of all funding sources.