Thai Senate Deliberates FY2027 Budget Bill, Emphasizing Fiscal Discipline and Public Welfare

The Thai Senate commenced deliberations on the Fiscal Year 2027 budget bill, totaling 3.788 trillion baht, on September 11th. The bill has already received approval from the House of Representatives. Ekkanit Nitithanprapas, Deputy Prime Minister and Minister of Finance, representing the government, stated that the FY2027 budget aims to drive government policies, address public grievances, and stabilize the economy, while also maintaining fiscal discipline. He emphasized the allocation of funds based on urgent necessity and public benefit, reiterating the government's commitment to economical, cost-effective, and efficient spending. Meanwhile, Watcharachart Kallyanamit, Chairman of the Special Committee, explained that the FY2027 budget represents an increase of 7.4 billion baht, or 0.2%, from the previous year. It comprises over 2.78 trillion baht for current expenditures and more than 789 billion baht for investment. With projected net revenue of 3 trillion baht, a deficit of approximately 788 billion baht is anticipated, necessitating borrowing. The committee expressed concerns regarding the rise in public debt and proposed that the government enhance revenue collection efficiency, reduce borrowing, and control public debt within 70% of GDP. They also urged the promotion of investment, exports, and future industries. Following these remarks, 46 senators registered to debate various issues, including the economy, society, security, disaster management, natural resources, and public administration. Information Source: INN News