Thai PM presents budget bill to parliament

Thai Prime Minister Prayut Chan-o-cha on Thursday presented the Budget Bill for fiscal 2020 to the House of Representatives, reiterating that the bill was designed to support national economy as priority.

The prime minister said the 2020 budget was set at 3.2 trillion baht (105.5 billion U.S. dollars) to respond to the situations of domestic and global economies, as well as to serve the 20-year national strategies.

According to Prayut, security-related budgets were estimated at 428.19 billion baht (14.12 billion U.S. dollars), or 13.4 percent of the whole budget. It also included 88.72 billion baht (2.9 billion U.S. dollars) for national defense, 5.35 billion baht (176.4 million U.S. dollars) for the security of key national institutions, 34.77 billion baht (1.14 billion U.S. dollars) for internal security, and 10.86 billion baht (358.1 million U.S. dollars) for solutions in southern border provinces.

Prayut said that 380.80 billion baht (12.5 billion U.S. dollars), or 11.9 percent of the total budget will be earmarked for national competitiveness. This budget lot will be spent on the development of farm products, special economic zones and transport.

The prime minister said wages of government officials will take up 431.34 billion baht (14.2 billion U.S. dollars), or 13.5 percent of the total budget, while 504.69 billion baht (16.65 billion U.S. dollars), or 15.8 percent, will be for spent in bureaucratic reform.

Source: China ASEAN Business Council