Thailand's House Approves 3.75 Trillion Baht Budget for 2025

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Thailand's House of Representatives has approved the 3.75-trillion-baht budget for the 2025 fiscal year. The decision came after a parliament session that saw 311 votes in favour, 175 against, and two abstentions. A 72-member House committee, including both government and opposition figures, will now scrutinise the bill over the next 30 days. 

 

Deputy Prime Minister and Commerce Minister Phumtham Wechayachai expressed gratitude towards the MPs and urged the committee to incorporate their recommendations. "The government will ensure the limited budget is spent efficiently and in the best interest of the public," Phumtham stated, emphasising the spending plan's aim to support economic growth.

 

Ahead of the vote, Move Forward Party (MFP) chief adviser Pita Limjaroenrat offered a five-point proposal to the government. His suggestions included a comprehensive plan for revenue collection and debt management, tax reform, and a transparent budget-making process. Pita also recommended that the special House committee's work should be as transparent as possible, encouraging public observation.

 

The Cabinet had initially approved the 3.75-trillion-baht (US$102 billion) budget on May 28. The fiscal year will commence on 1 October and run until 30 September next year. The budget will be funded by 2.88 trillion baht (US$78 billion) in tax revenue, along with a loan to cover a deficit of about 865 billion baht (US$23.6 billion).

 

A notable portion of the budget, totalling 152.7 billion baht (US$4 billion), is allocated for a digital wallet handout programme worth 500 billion baht (US$13.6 billion). Despite facing a higher deficit this year, the government has allocated 908 billion baht (US$24.7 billion) for investment—a 27.9% increase from the 2024 fiscal year, as reported by Bangkok Post.

 

As the committee begins its work, all eyes will be on how effectively this massive budget will be managed to foster economic growth and public welfare.

 

File photo courtesy: Wikipedia

 

-- 2024-06-24

 

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[JoePai]

Looks to be a lot of empty seats ?

[ChrisY1]

Ohhhh yawn.....another hectic day in the parliament!

[dinsdale]

And how much of this will end up in people's pockets. Quite a bit is my guess.

[Sydebolle]

"limited budget is spent efficiently and in the best interest of the public". 

The submarines spring to min, the additional billions for a dee sea port are not included yet, the high(est) speed trains from Bangkok to Rayong/Utapao, the land bridge from the Gulf of Thailand to the Andaman sea ......

But, as said, all this is in "the best interest of the public". Define public please .........