Central government expenditure as share of GDP Thailand FY 2017-2024

In the fiscal year 2024, central government expenditure accounted for 18.3 percent of the GDP in Thailand, indicating an increase from the previous year. The Thai government expenditure is composed of the compensation of employees, the use of goods and services, and the consumption of fixed capital, among other things. 

Expenditures of the central government in Thailand

  Thailand’s national budget for the 2024 fiscal year was set at around 3.35 trillion Thai baht compared to approximately 3.2 trillion Thai baht in the previous year. The Thai government spent a considerable amount of money on economic stimulus packages to aid the country in recovering from the COVID-19 pandemic. As the economy improves, the government would focus more on addressing household debt, as reported by Thai PBS World. In 2022, the value of public debt in Thailand accounted for around 10.4 trillion Thai baht and has been rising over the years.

Government expenditure distribution

  The Thai government’s expenditure budget can be categorized into groups, according to Thailand’s Budget Procedure Act B.E. 2561 (2018), which include central fund, expenditure for budget receiving agencies, integrated budget, public sector personnel, revolving funds, public sector debt repayments, and replenishment of treasury account and reserve fund. The budget receiving agencies refer to various government organizations ranging from the Ministry of Finance, local authorities, the Thai red cross society to royal agencies.