Thai parliament approves $115b budget in initial vote

The Thai government’s budget of 3.78 trillion baht ($115 billion) for the fiscal year 2026 was approved in its initial parliamentary vote on Saturday, with additional votes required for final enactment.

After a four-day debate, the draft budget bill to support the economy amid US tariffs passed with 322 votes in favour and 158 against. The Pheu Thai Party-led government, with a majority in the House of Representatives, faced some coalition tensions.

The budget vote is critical for the government. A defeat could have led to Prime Minister Paetongtarn Shinawatra resigning or dissolving the house for a general election.

The budget will need to go through second and third readings in the lower house, which are expected to take place in August, before being sent for Senate and royal approval. The fiscal year 2026 will begin on October 1.

Attribution: Reuters

Subediting: M. S. Salama