Thai Senate Clears Budget as Parties Scramble to Form Government

Thailand’s Senate approved a 3.78 trillion baht ($117 billion) annual budget, offering relief to investors concerned about political uncertainty following the sacking of Paetongtarn Shinawatra as prime minister last week.

The spending plan for the fiscal year starting Oct. 1 was backed by 148 members in the 200-member Senate on Tuesday. The House of Representatives passed the bill last month, and it now awaits royal endorsement.