Thailand’s lower house adopts 2021 budget bill hinh anh 1The House of Representatives passes the bill's final reading with 269 votes in favour, 60 against and 121 abstentions. (Bangkok Post file photo)

Bangkok (VNA) –
Thailand’s House of Representatives on September 18 night passed the budget bill worth 3.285 trillion THB (about 105 billion USD) for fiscal year 2021.

After a three-day debate, the bill's final reading passed with 269 votes in favour, 60 against and 121 abstentions.

The budget, starting in October, aimed at reviving an economy battered by the global impact of the COVID-19 pandemic.

Prime Minister Prayuth Chan-ocha thanked the House of Representatives and pledged that the government will use the budget to drive the economy and implement urgent policies for the country's sustainable growth. 

The proposed budget is up 2.8 percent from the current fiscal year. It projects a deficit of 623 billion THB, up 32.8 percent.

The bill will also need senate approval, and then the king's endorsement.

Thailand’s economy shrank 12.2 percent year on year in the second quarter of this year, the biggest reduction since the Asian financial crisis in 1998.

The finance ministry predicts a record economic contraction of 8.5 percent this year, mainly due to impacts of COVID-19./.