Prime Minister Srettha Thavisin presented the government’s 3.48 trillion baht budget bill to the House of Representatives today, saying that he is confident it will stimulate tourism and improve the national economy, while assuring that taxpayers’ money will be spent efficiently.

In his address to the House, the prime minister said that the budget bill is an important tool in delivering the government’s policies and corresponds to the economic situation and the nation’s fiscal condition, the national strategy and the 13th national economic and social development plan.

He said that the budget has been tailored to improve livelihoods, boost economic growth and competitiveness and encourage private investment.

With many people affected by economic problems, the prime minister said that the government has rolled out short-term economic stimulus schemes to boost public demand, leading to additional industrial investment and production expansion.

The government has also attached importance to social development and security by ensuring public access to improved medical services, through the “30 Baht Plus” universal health scheme, and access to treatment and rehabilitation for drug addicts, said the prime minister.

On the political and administrative fronts, the prime minister said that a new constitution will be drafted to rectify the drawbacks in the current charter and guide the country out of political polarisation.

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He explained that the national budget has been allocated to support national security, improvement of national competitiveness, development of human resources, the creation of opportunities and social equality, the improvement of environmentally friendly growth and adjustments to the administrative development of the government sector, to improve bureaucratic efficiency and capabilities.

With expenditure set at 3.48 trillion baht for the 2024 fiscal year, the prime minister said the government is expected to collect 2.78 trillion baht in revenues and to borrow the remainder, about 693 billion baht, to meet the shortfall.

Although expenditure is 9.3% higher than last year, he said that revenues are expected to increase by 11.9%.

The prime minister spent one hour and 40 minutes presenting the budget to the Lower House.