Thailand’s House of Representatives approves 93 billion USD budget
Thailand’s House of Representatives has approved the 3.1 trillion THB (about 93 billion USD) budget bill for the 2022 fiscal year after five days of debate. The budget deficit is estimated at 700 billion THB.
Thailand’s House of Representatives has approved the 3.1 trillion THB (about 93 billion USD) budget bill for the 2022 fiscal year after five days of debate.(Photo: www.thaipbsworld.com)
Bangkok (VNA) – Thailand’s House of Representatives has approved the 3.1 trillion THB (about 93 billion USD) budget bill for the 2022 fiscal year after five days of debate. The budget deficit is estimated at 700 billion THB.
The bill was passed on August 22 with a ratio of 257 votes in favour and 180 against. Three MPs voted to abstain and one did not cast a vote.
During the debates, the opposition urged the government to "freeze" unnecessary projects and use the saved money to deal with the COVID-19 pandemic. The House of Representatives has cut funding allocated to ministries, including the Ministry of Defence, and transferred some to the central budget for the government to use in case of emergencies, according to local media.
The bill will now move to t🐼he Senate, which i𝓀s scheduled to debate it on August 30./.
Thailand on August 16 downgraded its economic growth forecast for 2021 as the country is battling its worst COVID-19 wave, which has brought record numbers of new infections and deaths.
Thailand needs a further 1 trillion THB (29.9 billion USD) to ensure jobs and incomes for residents, the country’s central bank governor said on August 16, as the Southeast Asian nation struggles with its most severe COVID-19 outbreak to date.
Thailand’s Industry Ministry has said that COVID-19 has spread to the manufacturing sector at a worrying rate of 13 infected factories a day, with the food and electronics industries at the top of the caseload table.
Thailand’s central bank said on August 19 it plans to test its retail digital currency for the public in the second quarter of 2022 as an alternative payment option.
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Anti-dumping duties will continue to be imposed on producers from China and Japan while those on relevant exporters from the RoK and Vietnam will be terminated, starting from June 23.
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The pact covers goods, services, investments, intellectual property rights, customs facilitation, competition policy, sanitary and phytosanitary, trade and sustainable development, government procurement and economic cooperation.
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Thailand’s House of Representatives has approved the 3.1 trillion THB (about 93 billion USD) budget bill for the 2022 fiscal year after five days of debate.(Photo: www.thaipbsworld.com) 
