Thai PM presents US$115 billion budget to parliament to support lacklustre economy

Thailand's Prime Minister Paetongtarn Shinawatra arrives ahead of a no-confidence vote at the parliament in Bangkok, Thailand, on Mar 26, 2025. - Photo: Reuters

BANGKOK: Thai Prime Minister Paetongtarn Shinawatra on Wednesday (May 28) proposed a 3.78 trillion baht (US$115.5 billion) budget to parliament for the 2026 fiscal year, as her government seeks to support a sluggish economy facing steep US tariffs.

The draft budget bill, which is being debated in the house over the next four days, projects a 0.7% rise in spending, and a 0.7% drop in the budget deficit to 860 billion baht, or 4.3% of gross domestic product, from the 2025 fiscal year that ends in September.