2021 National Budget to Focus on Rehabilitating the Thai Economy

Thailand National Budget 2021

Prime Minister and Defense Minister General Prayut Chan-o-cha stated that the 2021 national budget focuses on rehabilitating the Thai economy and improving the people’s quality of life, which has been affected by the COVID 19 situation.

The Prime Minister on 1st July 2020 delivered his statement in the House of Representatives for a debate on the 2021 national budget draft bill. The Government has set the national budget for the 2021 fiscal year at 3.3 trillion baht against 3.2 trillion baht in the 2020 fiscal year.

In his statement, the Prime Minister pointed out that Thailand’s fiscal position remains strong and its international reserves now stand at 235.7 billion US dollars.

The 2021 national budget is based on six major strategies. The first strategy aims to strengthen national security, resolve problems in the southern border provinces, and tackle foreign labour and human trafficking. It also involves drug prevention and control, as well as disaster management.

The second strategy seeks to enhance Thailand’s competitiveness through various projects, such as those concerning logistics development, special economic zones, SMEs, tourism, agriculture, energy, and digital economy and society.

The third strategy involves human resource development and the fourth strategy social equality and decentralization of administrative power. The fifth strategy focuses on “green growth,” water resource management, and pollution and environmental control.

In the sixth strategy, public sector management will be adjusted, with strong anti-corruption efforts and greater efficiency in providing public services.

The Prime Minister said that, in rehabilitating the country’s economy after the COVID-19 outbreak, the Government is preparing to move the economy forward, in line with the BCG (Bioeconomy, Circular Economy, and Green Economy) model.


Sources: thailand.prd.go.th