(VOVworld) – The Thai National Legislative Assembly passed Monday an 81-billion-USD draft budget Monday for fiscal year 2015.

National Legislative Assembly members gather before the inauguration ceremony of the National Legislative Assembly at the parliament house in Bangkok August 7, 2014. (Photo: Reuteurs)

The bill was approved in the Assembly’s first working session since the Thai Royal Government appointed a new NLA president and two new deputies. 16 billion USD of the budget will be used for education development and 6 billion USD for defense.
The same day, the Thai National Economic and Development Board (NESDB) issued a report indicating that Thailand’s economy has grown 0.9 per cent in the second quarter of this year, temporarily escaping from recession after months of political crisis. But the board lowered its growth forecast for 2014 from between 1.5 to 2.5 per cent to between 1.5 and 2 per cent. According to the board, the political instability in the first 5 months of this year will continue to slow Thai economic growth. Thailand’s 2 key industries – automobiles and tourism – are declining.