Thailand’s Prime Minister Srettha Thavisin has presented a proposed budget of 3.753 trillion baht for the 2025 fiscal year, aimed at kickstarting the country’s sluggish economy. The government expects the Southeast Asian second-largest economy to grow between 2.5% and 3.5% in the next year, with inflation projected to be between 0.7% and 1.7%.
The proposed budget of $102 billion is crucial for Thailand to recover from the economic impacts of the COVID-19 pandemic. Srettha told lawmakers in the House of Representatives that it is essential for jump-starting the sluggish economy and supporting businesses, creating job opportunities, and implementing measures to boost economic growth.
Lawmakers have begun a three-day debate on the proposed budget, which comes at a critical time for Thailand as it looks to recover from the downturn caused by the pandemic. The government aims to invest in various sectors such as agriculture, tourism, education, and infrastructure development while also addressing social welfare issues like unemployment benefits and health care reforms.
Srettha said that he believes that with this budget proposal, Thailand can reach its full potential and become one of the most prosperous countries in Asia. He emphasized that this is not just about money but also about creating opportunities for people to improve their lives through investment in human capital development programs like vocational training and education reforms.