Thai Government’s $115 Billion Budget Clears First Hurdle, More Votes Ahead
Bangkok, Thailand – The Thai government’s proposed 3.78 trillion baht ($115 billion) budget for the 2026 fiscal year successfully passed its initial parliamentary vote on Saturday, June 1, 2025. This crucial first step, aimed at stimulating a sluggish economy currently contending with steep U.S. tariffs, saw 322 votes in favor and 158 against after a four-day debate.
The budget’s passage is a significant win for the ruling Pheu Thai Party-led government, which holds a majority in the House of Representatives despite some reported coalition tensions. A defeat on this vote could have had serious consequences for Prime Minister Paetongtarn Shinawatra, potentially forcing her resignation or prompting the dissolution of the house and a call for new elections.
While the initial vote is a key milestone, the draft budget bill still faces several more rounds of approval. It must pass second and third readings in the lower house, anticipated in August. Following that, it will require approval from the Senate and final royal assent before it can be enacted. The 2026 fiscal year is set to commence on October 1.
Click here for more on World
