Nation Thailand
House approves 2027 budget bill in first reading after three-day debate
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The House of Representatives voted overwhelmingly on July 1 to pass the 2027 budget expenditure bill in its first reading, or acceptance in principle, after three days of debate.
Key facts
- At 9pm, the House voted 288 in favour, 119 against, with 86 abstentions, out of 493 MPs present.
- On the budget deficit, Ekniti acknowledged that in 2026 the country had faced overlapping crises, causing the deficit to rise to 4.4% of gross domestic product, which created pressure from global credit-rating agencies.
- In 2027, the government plans to reduce the deficit to 3.9% of GDP
- It has also announced a medium-term fiscal sustainability plan, targeting a reduction in the deficit to below 3% by 2029.
- He concluded that the government has set a medium-term target of pushing Thailand’s economic growth back above 3% and raising national competitiveness into the world’s top 20 within four years.
- After the vote, the House proceeded to nominate members of a special committee to scrutinise the 2027 budget bill.
Summary
At 9pm, the House voted 288 in favour, 119 against, with 86 abstentions, out of 493 MPs present.
After the vote, the House proceeded to nominate members of a special committee to scrutinise the 2027 budget bill.