BANGKOK, June 19 -- Thai Prime Minister Srettha Thavisin on Wednesday proposed the government's budget bill for the fiscal year 2025, worth 3.75 trillion baht (102 billion U.S. dollars), to parliament for its first reading.

The budget allocation aims to continue efforts of the previous fiscal year, with a focus on maximizing Thailand's economic potential through policies that seek to position the Southeast Asian country as a hub for key industries, Srettha told the House of Representatives.

The Thai economy is expected to grow 2.5 percent to 3.5 percent in 2025, supported by a continued recovery in exports, domestic consumption, private investment, and the tourism sector. Meanwhile, headline inflation is projected to range between 0.7 percent and 1.7 percent, he said.

Srettha noted the deficit budget that would exceed expected revenues by 865.7 billion baht is crucial to stimulating the sluggish economy, ensuring continuous money flow into the private sector, and spurring demand and economic activities.

Investment expenditures mark the highest proportion in 17 years, accounting for nearly a quarter of total expenditures, he added.

A significant economic boost is anticipated from the 500 billion baht handout scheme, set to reach 50 million Thais via a digital wallet by the end of 2024, driving nationwide spending and job creation that will become tax revenues for the government, the prime minister told parliament.

A three-day debate on the bill in the lower House of Representatives is scheduled to conclude on Friday.

  - Xinhua