KASIKORNBANK Economic and Subsidiaries Performance Overview
K
KASIKORNTHAI
Government Fiscal Budget
1400
1200
1000
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
■Thai parliament approved FY2023 budget worth Bt3.18trn,
with a deficit of Bt695bn
■Implementation of FY2023 budget effective October 2022
600
540
360
الاس
800
600
400
390
700
695
450
609
200
450
469
163
100
0
FY2017
FY2018
FY2019
FY2020
FY2022
FY2023
Budget Deficit
Economic
Policies
■2022 Budget Act
■2023 Budget Act
FY2021
Extra-Budget Borrowing
Key Points
■FY2022 budget at Bt3.10trn with
a deficit of Bt700bn
■FY2023 budget at Bt3.18trn with
a deficit of Bt695bn
Implementation Process
FY2022
■ Effective date: October 1, 2021
FY2023
■ Effective date: October 1, 2022
Possible Impacts/
Expected Budget
■Government spending will help
maintain economic momentum
■Fiscal sustainability to remain
manageable in near-term; however,
continued debt creation, both from
budget deficit and other borrowings,
may impact long-term fiscal
sustainability
Note: Thai government's fiscal year (FY) begins on October 1 and ends on September 30 of following year
Sources: The Ministry of Finance and KResearch (as of October 2022)
บริการทุกระดับประทับใจ
K
KASIKORNTHAI
Public Debt to GDP and Fiscal Budget
Public Debt
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
Budget Disbursement Rate
135
million
11,000
10,000
9,000
8,000
7,000
6,000
Jan-17
May-17
Sep-17
-18
Public Debt (Ihs)
% to GDP (rhs)
Oct-22
Feb-23
Jun-23
■Public debt to GDP ratio rose to 61.7% in July 2023.
However, it is still under the 70% limit set under the
fiscal sustainability framework
■Thai government raised the ceiling of the public
debt-to-GDP ratio from 60% to 70%. The public debt
to GDP is expected to rise to 60.43% in FY2023
Source: Ministry of Finance (MOF), Fiscal Policy Office (FPO),
and Public Debt Management Office (PDMO)
(%)
%
70
100
65
59
90
80
60
70
89.8
83.5
76.4
67.7
59.9
55
55
60
53.1
45.3
50
37.7
50
50
40
30.0
FY 2023
22.7
30
45
15.0
-FY 2022
20
40
10
10
⚫FY 2021
0
Oct
Nov Dec Jan Feb
Mar Apr May Jun
Jul
Aug Sep
FY23 Budget
- Investment Budget
Bt0.66trn
FY23
target
Bt3.18trn
(100%)
Bt2.53trn
(100%)
Bt0.65trn
11M FY23
actual
Unused FY23
Budget
Bt2.86rn
(90%)
Bt0.32rn
(10%)
(100%)
Bt2.43trn
(96%)
Bt0.42rn
(64%)
Bt0.10trn
(4%)
Bt0.23trn
(36%)
Total Budget
Bt3.18trn
- General Budget
Bt2.52trn
■Government budget disbursement rate for 11MFY2023 is
89.8%, up 2.4% from 87.4% in 11MFY2022
บริการทุกระดับประทับใจ
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