Thai Parliament passes US$93b budget as growth outlook dims

Monks and volunteers conduct free Covid-19 tests at Wat Suthi Wararam, a Buddhist temple providing free medical facilities and food to those in need, in Bangkok, Thailand. - Bloomberg

BANGKOK: Thailand’s parliament approved the nation’s annual budget that seeks to ramp up spending on tackling the Covid-19 outbreak while slashing outlays for defense and education with the government revenue coming under pressure from a worsening growth outlook.

The 3.1 trillion baht ($93 billion) spending plan for the fiscal year starting Oct. 1 received the backing of 257 lawmakers. A total of 189 voted against it and four abstained after a four-day debate, according to the results of a parliamentary voting on Sunday. The budget outlay is 5.8% less than the 3.29 trillion baht for this year and pegs the budget deficit at 700 billion baht.