Thai gov’t to submit budget draft for fiscal 2013 to parliament

BANGKOK, May 20 (TNA) - On Monday, the coalition government of Prime Minister Yingluck Shinawatra will submit to parliament its draft budget for fiscal 2013, amounting to 2.4 trillion baht. Of the total budget, over 460 billion baht would be allocated to the Education Ministry, 319 billion baht to the Central Budget, and 309 billion baht to the Interior Ministry. The proposed budget would carry a 300-billion-baht deficit, covering fixed expenditure of over 1.9 trillion baht, investment expenditure of over 448 billion baht and almost 50 billion baht for repayment of loans. The government says the budget will be spent on boosting efficiency of government agencies, stimulating economy and promoting local administrative projects to boost the standard of living. It has been projected that the Thai economy will grow between 4-5 per cent in 2013, while inflation will rise at 3.8 per cent and corporate tax dropping about four billion baht. (TNA)