Thailand's weekly cabinet meeting on Tuesday approved a draft royal decree for convening a special extraordinary session of Parliament during June 15-23 for the next fiscal year's budget bill deliberation, Deputy Government Spokesman Supachai Jaisamut said.
The latest move followed the weekly cabinet meeting on May 19, which approved a 1.7 trillion baht (49.37 billion U.S. dollars) budget bill for the next fiscal year 2010, which covers a period of October 2009 to September 2010.
Earlier, the fiscal budget for the next fiscal year 2010 was set at 1.9 trillion baht (53.4 billion U.S. dollars), however the Thai government decided to trim it since the government has expected to collect fewer revenues amid the continued sluggish outlook of the country's economy.
The government's revenue collection for the first seven months of the current fiscal year 2009 (October 2008-April 2009) totaled 644.65 billion baht (18.69 billion U.S. dollars), or 128.93 billion baht (3.73 billion U.S. dollars) below the target.
The next fiscal year's budget bill, which will be forwarded to the Parliament for deliberation in mid-June, is expected by the Thai government to take effect on time in October, 2009.
Source: Xinhua
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