By Orathai Sriring
BANGKOK- The Thai government’s additional 122 billion baht ($3.4 billion) budget bill for the 2024 fiscal year to finance its signature stimulus program passed its first parliamentary vote on Wednesday.
After a one-day debate by lawmakers to scrutinize the much-criticized handout scheme, the budget passed with 297 votes in favor and 164 against as the Pheu Thai Party-led government commands a majority in the House of Representatives.
The budget will still need to pass second and third readings in the lower house, expected on July 31, before being sent for senate and royal approval.
“The government needs the budget to stimulate the economy by boosting money circulation in various areas,” Prime Minister SretthaThavisin told parliament.
The 500 billion-baht ($13.9 billion) scheme is aimed at jump-starting Southeast Asia’s second-largest economy, which grew only 1.9 percent last year and has trailed regional peers.
Srettha said the economy was expected to grow 2.5 percent this year and extra budget spending would adhere to fiscal discipline. –Reuters
