BANGKOK, Sept. 11 (Xinhua) -- Thailand's Senate passed the 3.79 trillion baht (about 114.8 billion U.S. dollars) expenditure bill for fiscal year 2027 on Friday, concluding parliamentary clearance of the government's annual spending plan.
The upper house of parliament approved the budget bill for the fiscal year beginning Oct. 1 with 145 votes in favor, five against, and 12 abstentions. The bill will now be submitted for royal endorsement before taking effect.
Speaking after the passage of the bill, Thai Prime Minister Anutin Charnvirakul emphasized that the annual spending package serves as a critical instrument to drive government initiatives, national strategies, and public sector reforms aimed at reducing inequality, fostering sustainable economic growth, and enhancing national stability.
Anutin pledged close oversight, assuring lawmakers that funds will be disbursed according to policy objectives, ensuring transparency, efficiency, results, and accountability in a rapidly changing environment.
The spending plan aims to shore up economic stability amid a modest growth outlook of 1.7 percent to 2.7 percent for 2027, dampened by geopolitical volatility, global trade protectionism, and climate disruptions. ■