BANGKOK (BERNAMA) – Thailand’s Parliament passed the THB3.2 trillion budget bill for 2020 fiscal year after a four-day debate.
The bill was passed with 253 votes on the third reading yesterday evening. There were 196 abstentions and one uncast vote.
The budget’s approval was the first test for Prime Minister General Prayuth Chan o-cha’s coalition, which has a razor-thin majority in the House of Representatives.
If the budget bill had failed to be adopted, it would have forced the dissolution of the House of Representatives and heightened political uncertainties in the country, as well as slowed down government spending.
The budget sees a seven per cent rise in overall spending to TBH3.2 trillion for the fiscal year that began on October 1.
Later, Prayuth thanked Members of Parliament for approving the bill which assured a transparent and efficient spending.
“The budget is the tool to mobilise the country’s growth,” he said.
The bill is expected to come into effect in February following a vote in the Senate.
The bill is expected to be effective in early February after endorsement by the King later this month.