Parliament approves 2027 Budget Act and 12bn economic fund

Prachachat•Politics•10d ago

Reader Briefing

The House of Representatives approved the Budget Expenditure Act for the fiscal year 2027 with 338 votes in favor.

•The House of Representatives passed the 2027 Budget Act with 338 votes in favor and 144 against.
•The total budget for the fiscal year 2027 is set at 3.788 trillion baht.
•A central fund of 12 billion baht is allocated to address economic issues and energy price volatility.
•The Senate is scheduled to consider the act on September 11 at 09.00.

Overview

•The House of Representatives considered the Budget Expenditure Act for the fiscal year 2027 over four days from September 7 to 10, 69.
•The House of Representatives approved the Budget Expenditure Act for the fiscal year 2027 in its third reading with 338 votes in favor, 144 against, 2 abstentions, and 1 non-vote.
•The total budget amount for the fiscal year 2027 is 3.788 trillion baht, though another section mentions 3.88 trillion baht.
•The National Economic and Social Development Council forecasts the Thai economy in 2027 to expand between 1.7% and 2.7%.
•A central budget of 12,000 million baht is allocated to resolve economic and social issues and mitigate energy price volatility.
•The 12,000 million baht fund aims to support energy restructuring, promote clean energy, and reduce dependence on energy imports.
•The central fund may be used as the Thai Chuay Thai Plus Phase 2 measure to alleviate the impact of energy price volatility.
•The Senate will consider the draft act on September 11 at 09.00.

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Key Entities

Person

Sophon Saram(โสภณ ซารัมย์)ℹ️

The chairman of the special session of the House of Representatives.

Organization

House of Representatives(สภาผู้แทนราษฎร)ℹ️

The legislative body that voted to approve the 2027 Budget Act.

Senate(วุฒิสภา)ℹ️

The body scheduled to consider the draft Budget Act on September 11.

National Economic and Social Development Council(สภาพัฒนาการเศรษฐกิจและสังคมแห่งชาติ)

The agency that forecasted the Thai economy's expansion in 2027 to be between 1.7% and 2.7%.

Law

Budget Expenditure Act for the Fiscal Year 2027(พระราชบัญญัติงบประมาณรายจ่ายประจำปีงบประมาณ 2570)

The legislation regarding the national budget for the year 2027 with a value of 3.788 trillion baht.

Emergency Decree Empowering the Ministry of Finance to Borrow Money to Solve Impacts from the Energy Crisis and Create National Energy Transition 2026(พระราชกำหนดให้อำนาจกระทรวงการคลังกู้เงินเพื่อแก้ไข ปัญหาผลกระทบจากสถานการณ์วิกฤตด้านพลังงานและสร้างการเปลี่ยนผ่านด้านพลังงานของประเทศ พ.ศ. 2569)

A decree providing government spending support for energy crisis resolution and transition.

Policy

Thai Chuay Thai Plus(ไทยช่วยไทยพลัส)

A measure in its second phase intended to alleviate impacts from energy price volatility using central budget funds.