Thailand’s House of Representatives yesterday, June 2nd, has approved a 3.1 trillion baht budget bill in principle for the 2022 fiscal year in its first reading, starting October 1st with an aim to revive the economic crisis from recent Covid-19 outbreaks.
Members of Parliament have cast 269 votes in favor, 201 against, and two abstentions to pass the first reading of the 2022 budget bill last night, following a three-day debate since Monday.
The Parliament will set up a 72-member budget scrutiny committee as the following step to scrutinize the bill for 105 days. The committee consists of 18 representatives from the cabinet, 30 from government parties, and 24 from opposition parties. The first meeting is expected for Friday.
Prime Minister Prayuth Chan-O’Cha stated at the debate: “The 2022 budget bill will help drive the country’s economy out of this economic crisis caused by the outbreak as well as quickly restore growth.”
According to his statement, Thailand’s economy will grow about 2.5 to 3.5 percent this year and 4.0 to 5.0 percent in 2022 due to the domestic economic recovery, uptrends of the world trading businesses, and the effective Covid-19 vaccine distribution among the world’s major economic driving countries.
The second and the third readings of the bill are scheduled in August before it goes for senate and royal approval.
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