BANGKOK: Thai Prime Minister Srettha Thavisin unveiled a 3.75 trillion baht (RM480.52 billion) budget bill for the fiscal year 2025 to parliament.
The proposed budget aims to build on the previous fiscal year’s efforts, focusing on maximising Thailand’s economic potential by positioning the country as a hub for key industries, Srettha told the House of Representatives.
The Thai economy is expected to grow between 2.5% and 3.5% in 2025, driven by a continued recovery in exports, domestic consumption, private investment and tourism. Headline inflation is projected to range between 0.7% and 1.7%.
Srettha noted the deficit budget that would exceed expected revenues by 856.7 billion baht is crucial to stimulating the sluggish economy, ensuring continuous money flow into the private sector and spurring demand and economic activities.
Investment expenditures mark the highest proportion in 17 years, accounting for nearly a quarter of total expenditures, Srettha said.
A significant economic boost is anticipated from the 500 billion baht handout scheme, set to reach 50 million Thais via a digital wallet by the end 2024, driving nationwide spending and job creation that will become tax revenues for the government, the prime minister told the Thai parliament.
— BERNAMA
