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M/T Fiscal Framework Approved

THAILAND
  • Thailand have now approved their medium-term fiscal framework for FY 2025-2028, according to Bloomberg.
  • Thai fiscal framework headline comes as the cabinet press ahead with a number of different pieces of legislation over the past two sessions - perhaps more notably minimum wage hikes for next year were approved by cabinet, amounting to 2.37% on average - with a second hike possibly coming at some point during 2024, according to a government spokesman.
  • Headline above refers to the M/T 2025-2028 budget - more near-term measures expected to be included in the final draft of the budget bill for the '24 fiscal year - which was approved by cabinet yesterday and should be forwarded to parliament at some point next week.

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