The cabinet has approved a draft act for the fiscal 2024 budget worth 3.48 trillion baht.
According to Budget Bureau director Chalermphol Pensoot, the bureau will present the draft act to the cabinet for final approval on Dec 26, before it proceeds to the parliamentary process.
Mr Chalermphol said the bureau also presented a summary of the public hearings on the budget for fiscal 2024.
The hearings ran from Nov 29 to Dec 5.
"The bureau completed the public hearing process and submitted the proposal to the cabinet," he said.
"The results show more than 99% of respondents agree with the details of the 2024 budget, with only minor adjustments needed."
In September, the cabinet approved a budget framework for fiscal 2024 worth 3.48 trillion baht, an increase of 130 billion baht from the previous plan, with a budget deficit of 693 billion baht, up from the 593 billion baht approved by the previous government.
The increase in budget is intended to align it with the medium-term fiscal plan for 2024 to 2027, as proposed by the Financial and Fiscal Policy Committee.
The increase in the budget comes from projected revenue growth of 30 billion baht, which will be used to cover the increased interest payments on loans caused by rising interest rates.
The draft also addresses the increased budget deficit of 100 billion baht to support government initiatives and maintain fiscal and monetary discipline.
According to the bureau, the fiscal 2024 budget assumes economic growth of 5%.
The bureau also insisted the larger budget deficit not affect the country's medium-term fiscal framework.
Mr Chalermphol said earlier the fiscal 2024 budget continues to focus on deficit spending to stimulate economic recovery, in line with the national strategy and various development plans, including the 13th National Economic and Social Development Plan.