KBank's Strategic Acquisition in Muang Thai Group Holding
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
ธนาคารกสิกรไทย
开泰银行 KASIKORNBANK
KASIKORNTHAI
Public Debt to GDP and Fiscal Budget
Public Debt
Budget Disbursement Rate
million Baht
11,000
10,500
10,000
9,500
9,000
8,500
8,000
7,500
7,000
6,500
6,000
(%)
%
70
100
55
90
65
80
60
60
70
59.9
60
53.1
55
45.3
50
37.7
50
40
50
30.0
30
22.7
45
45
15.0
20
Jan-17
Mar-17
May-17
-inc
Sep-
Nov-
Sep-19
Public Debt (lhs)
May-2
Sep-20
Jan-
Mar-2
May-2
Jul-21
% to GDP (rhs)
Sep-21
Nov-2
Jan-2
Mar-22
Jun -22
■■Public debt to GDP ratio rose to 61.2% in March
Aug-22
Oct-22
Dec-22
Feb-23
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)
40
40
FY 2023
FY 2022
10
⚫FY 2021
0
Oct Nov Dec Jan
Feb Mar Apr May Jun
Jul Aug Sep
FY23 Budget
FY23
target
Bt3.18trn
(100%)
Bt2.52trn
(100%)
Bt0.66trn
(100%)
7M FY23
actual
Unused FY23
Budget
B1.90trn
(60%)
Bt1.65trn
(65%)
Bt0.26rn
(40%)
Bt1.28rn
(40%)
Bt0.87trn
(35%)
Bt0.40trn
(60%)
Total Budget
Bt3.18trn
- General Budget
Bt2.52trn
- Investment Budget
Bt0.66trn
■Government budget disbursement rate for 7MFY2023 is
59.9%, up 2.3% from 57.6% in 7MFY2022
บริการทุกระดับประทับใจ
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