Bangkok: The parliament engaged in a comprehensive debate over the draft budget for the fiscal year 2027 during its first 70 days of deliberations. Ekniti Nitithanprapas, the Deputy Prime Minister and Minister of Finance, emphasized that the budget is designed to support the populace and economy, while laying a robust foundation for the nation through a focus on six strategic plans.
According to Thai News Agency, the parliamentary session, chaired by Speaker Sophon Saram, addressed the urgent issue of the draft Budget Act for 2027, amounting to 3.788 trillion baht, as proposed by the Cabinet. This session commenced at 9:20 AM with Mr. Ekniti presenting the budget on behalf of Prime Minister Anutin Charnvirakul, who was on an official trip abroad. The proposed budget emphasizes economic growth, infrastructure development, and improved citizen quality of life, aligning with national strategies. The projected economic growth for 2027 is between 1.7% and 2.7%, with factors affecting the economy leading to an anticipated median inflation rate of 0.5% to 1.5%. The public debt as of March 2026 stands at 12 trillion baht, which is 66.4% of GDP, while the national treasury reserves are 340 billion baht.
Mr. Ekniti highlighted the fiscal challenges, noting that recurring expenditures are on the rise as capital expenditure funds diminish, necessitating fiscal tools to stimulate the economy. As public debt approaches the 70% GDP ceiling, fiscal policy must aim to reduce the fiscal deficit to no more than 3% by 2029 to ensure long-term fiscal stability.
The 2027 budget, totaling 3.788 trillion baht, is allocated into various categories: a central budget of 698 billion baht, budget-receiving agency funds of 1.3 trillion baht, integrated expenditure of 70 billion baht, personnel expenditure of 850 billion baht, a revolving fund of 290 billion baht, government debt repayment of 462 billion baht, and treasury replenishment of 71 billion baht. These allocations support six strategies and 63 programs.
The strategies include a 407 billion baht security strategy with 14 programs to ensure national security and foster unity, a 348 billion baht competitiveness strategy with 15 programs targeting infrastructure and renewable energy, and a 611 billion baht human resource strategy with 8 programs focusing on public health and life skills. Additionally, a 960 billion baht social equality strategy with 12 programs aims to reduce inequality, while a 137 billion baht environmental strategy with 9 programs seeks sustainable natural resource management. Lastly, a 676 billion baht public sector strategy with 7 programs aims to modernize civil services.
The budget also includes 646 billion baht for government operating expenses, divided into 112 billion baht for emergencies, 462 billion baht for debt management, and 71 billion baht for treasury replenishment.