Thai Prime Minister Srettha Thavisin has presented a bold budget proposal of 3.753 trillion baht (equivalent to US$102 billion) to the parliament for the fiscal year 2025. The primary objective of this substantial budget is to revitalize the country’s lackluster economy as lawmakers engage in a three-day deliberation.
During his address to the House of Representatives, Prime Minister Srettha emphasized that the budget aims to unleash the full potential of the Thai economy. He also disclosed the government’s economic growth projections for the upcoming year, expecting the economy to expand between 2.5% to 3.5%, with an inflation rate estimated at 0.7% to 1.7%.
In a previous statement, PM Srettha had expressed confidence in an upward trajectory for the economy in the fourth quarter. However, the immediate focus of the government is now directed towards devising strategies to enhance economic growth in the third quarter.
“The budget has been allocated, and our priority is to explore methods to ensure its prompt and effective utilization,” stated Prime Minister Srettha.
This proposed budget is a significant step by the Thai government as it attempts to address the various economic challenges facing the nation, including the impact of the global pandemic. The allocation of such a substantial amount reflects the seriousness with which the government is approaching the task of economic revival.
It is evident that Thailand is making a concerted effort to mitigate the economic repercussions of the past year. The proposed budget demonstrates a proactive approach to reigniting economic growth and instilling confidence among businesses and consumers, thereby bolstering the overall economic landscape.
As the parliamentary debate on the budget proposal unfolds, it is essential for lawmakers to scrutinize the intricacies of the proposed allocation and ensure that it aligns with the overarching goal of economic rejuvenation.
In conclusion, Prime Minister Srettha’s proposal of a 3.753-trillion-baht budget signifies the government’s steadfast commitment to propel Thailand towards a path of economic recovery and resurgence. The coming days of deliberation and analysis by the parliament will undoubtedly play a crucial role in shaping the economic future of the nation.
Leave a Reply