Search Results for: budget bill
- Thailand News
Thailand unveils 3.75 trillion baht budget bill to boost economy
As the House of Representatives kicked off a three-day debate, Prime Minister Srettha Thavisin introduced a 3.75 trillion baht budget bill for the 2025 fiscal year, aimed at revitalising Thailand’s sluggish economy. Simultaneously, he remains focused on advancing the digital wallet scheme. The budget intends to stimulate economic growth, with forecasts suggesting an increase of 2.5% to 3.5% in 2025…
- Thailand News
Cabinet reshuffle dismissed by key ministers following budget bill
Talk of a possible Cabinet reshuffle has been dismissed by three key Cabinet ministers, following the passing of the budget expenditure bill in early April. Deputy Prime Minister and Commerce Minister Phumtham Wechayachai, Defence Minister Sutin Klungsang, and Agriculture Minister Capt Thamanat Prompow are the ministers in question. Rumours have been circulating about a potential Cabinet reshuffle since the ministers…
- Economy News
Thailand’s delayed 2024 budget bill presented in Parliament
The delayed budget bill for this year, amounting to 3.48 trillion baht (US$101.52 billion), was presented today by Prime Minister and Finance Minister Srettha Thavisin in the House of Representatives. This event marked the start of a three-day debate among lawmakers. PM Srettha emphasised the importance of the budget to Parliament. “The budget is crucial in moving the economy forward.”…
- Thailand News
Thai prime minister ready for key 2024 fiscal year budget bill debate
Thailand Prime Minister Srettha Thavisin confidently announced yesterday his readiness to participate in the upcoming debate on the 2024 fiscal year budget bill. The discussions are set to kick off tomorrow, January 3. PM Srettha revealed that a series of discussions with coalition partners in preparation for the debate had taken place before the new year holiday. The primary aim,…
- Economy News
PM Srettha rallies coalition for upcoming budget bill debate
Prime Minister Srettha Thavisin has requested all coalition partners of the government to gear up for the upcoming debate on the Budget Bill for the fiscal year 2024. The bill, which aims to secure 3.48 trillion baht (US$101 billion) to fund the fiscal year that began in October, is due for its initial reading from January 3 to 5. The…
- Economy News
Budget bill boost to government
PM Prayut Chan o cha’s government received a boost today when Parliament passed the first reading of an almost 3.2 trillion baht draft budget bill for the 2023 fiscal year starting October 1. After a 3-day debate, the bill passed with 278 votes in favour, 194 against, and two abstentions. Pm Prayut says the bill will help the nation restore…
- Thailand News
House approves 122 billion baht digital wallet scheme budget
The House of Representatives approved a supplementary bill to increase the budget for the current fiscal year by 122 billion baht, in a vote held late yesterday. This additional funding aims to partially finance the government’s digital wallet handout scheme. A total of 297 MPs voted in favour of the bill, while 164 opposed it, with no abstentions recorded. Among…
- Business News
Thailand to boost 2024 budget by 122 billion baht for economic lift
Prime Minister Srettha Thavisin emphasised the necessity of increasing the 2024 fiscal budget by 122 billion baht to stimulate Thailand’s economy. He proposed a supplementary budget bill to the House, aiming to finance the digital wallet scheme, a core policy of the Pheu Thai Party. Opposition parties opposed the bill, citing legal concerns and potential violations of the State Fiscal…
- Thailand News
Ministry seeks 1billion baht tourism budget for new routes
The Ministry of Tourism and Sports plans to request a 1 billion baht budget from the central emergency reserve fund to develop new tourism routes linking major cities to 55 notable destinations in a move to establish long-term tourism strategies. The proposed budget aims not only to organise events but to also develop new tourism routes and enhance infrastructure. Specifically,…
- Business News
Thailand Cabinet boosts 2024 fiscal budget by 122 billion baht
The Thai Cabinet approved a plan to increase the 2024 fiscal budget by 122 billion baht to support its delayed household stimulus scheme, Deputy Finance Minister Paopoom Rojanasakul today announced. This adjustment will raise the new budget to 3.6 trillion baht, representing a 13% increase from the previous year, with the deficit swelling to 805 billion baht. The government’s decision…
- Business News
Govt to boost 2024 budget by 122 billion baht for handout scheme
According to the Budget Bureau Chief, the Thai government plans to increase the 2024 fiscal budget by 122 billion baht to support its primary handout initiative. This announcement follows the recent approval of a delayed 3.48 trillion baht budget. The government is continuing to push forward with fiscal stimulus plans, aiming to distribute 500 billion baht by the fourth quarter…
- Business News
PDMO to sell 100 billion baht savings bonds for budget deficit funding
The Public Debt Management Office (PDMO) announced plans to sell 100 billion baht (US$2.78 billion) worth of savings bonds within the fiscal year to finance the budget deficit. The initial issue, valued at 40 billion baht (US$1.1 billion), will be offered next month, according to the director-general of the PDMO, Patchara Anuntasilpa. The first tranche of savings bonds for the…
- Business News
Thai govt greenlights 500 billion baht boost for state-owned enterprises in 2024 budget bonanza
The Thai government yesterday approved a massive investment budget of 500 billion baht dedicated to 46 state-owned enterprises for the fiscal year 2024, commencing this October. The substantial budget aims to stimulate the national economy and bolster fiscal growth. Government spokesperson Chai Wacharonke detailed the budget allocation, stating that the funding includes 209 billion baht earmarked for ongoing and routine…
- Thailand News
Pattaya sets 1.9 billion baht budget aiming to revitalise tourism and local economy
Emphasising tourism and local economy stimulation, the city of Pattaya has delineated its budget allocation for the upcoming fiscal year. Paramet Ngampichet, the Mayor of Pattaya City, announced the conclusion with the budget set to be effective from October 1. In a recent meeting participated in by municipality executives, councillors, and local government entities, a resources allotment of 1.9 billion…
- Business News
Thailand boosts tourism budget to 5 billion baht
The Tourism Authority of Thailand (TAT) announced its plans for the fiscal year 2024, with a focus on growing off-peak customers, increasing spending per trip by 7%, and distributing income to a wider range of destinations. The budget for these initiatives is set at 5 billion baht, a significant increase from the 3.25 billion baht allocated for fiscal 2023. TAT Governor…
- Environment News
Bangkok seeks 90 billion baht budget approval for green spaces and pollution projects
The Bangkok Metropolitan Administration (BMA) is set to request a 90 billion baht budget for 2024, with plans to revise policies in line with global trends and the new cabinet’s direction. This decision follows a recent meeting of the Bangkok Executive Board, chaired by Governor Chadchart Sittipunt. Chadchart revealed that the budget management format would adopt a zero-based budgeting approach.…
- Tourism News
Thailand’s tourism sector is asking for an additional 1 billion baht budget
The Thai tourism sector has asked for an additional budget of about 1 billion baht to boost the Thai economy in hopes of making 265 billion baht (from inbound tourists). The tourism sector says they should be able to secure at least 80 million domestic trips, gaining 215 billion baht, alone. Then, they predict, the international market will see 1…
- Tourism News
Domestic tourism stimulus scheme gets 9-billion-baht budget approval for phase 4
The government’s domestic tourism stimulus scheme enters phase 4 from February, with Cabinet approving a 9-billion-baht budget. “We Travel Together’ (Rao Tiew Duay Kan) will run until July, according to a government spokesperson. According to a Thai PBS World report, participants can benefit from a 40% discount on hotel rates, up to a maximum of 3,000 baht a night and…
- Covid-19 News
Cabinet approves budget of 35 billion baht for Pfizer and AstraZeneca vaccines
A government spokeswoman says over 35 billion baht is being earmarked for 90 million doses of Covid-19 vaccines from Pfizer and AstraZeneca. Rachada Dhnadirek says the funds will come from the Covid-19 relief loan the government obtained under the executive decree. The vaccine fund is part of a total fund of 35.9 billion approved at a cabinet meeting yesterday. According…
- Thailand News
2023 healthcare budget of 207 billion baht proposed including Covid-19
In order to add Covid-19 testing and treatment to the benefits of universal healthcare in Thailand for 2023, the National Health Security Office is requesting a 207 billion baht budget. Minister of Public Health Anutin Charnvirakul chaired a meeting on Thursday of the NHSO which came up with the figure to request to include funding for Covid-19. The budget for…
- Covid-19 News
Cabinet approves budget of over 6.3 billion baht for 35 million more vaccine doses
The Thai government has approved a budget of 6.387 billion baht to procure an additional 35 million doses of Covid-19 vaccines. The budget was approved at a Cabinet meeting yesterday, according to a government spokesperson. Nation Thailand reports that the budget will be divided into 5.6 billion baht, which will be spent on AstraZeneca vaccines, with 700 million baht going…
- Bangkok News
Multi-billion baht budget for Bangkok Metropolitan Administration
Bangkok Council has approved a multi-billion baht budget for the Bangkok Metropolitan Administration (BMA) for 2020. The budget was approved during a meeting in the second extraordinary session of the council for 2019 after BMA Governor Aswin Kwanmuang proposed the budget bill to the chamber. The bill requests 83 billion baht for fixed expenditures for the Fiscal Year 2020 and 398.92…
- Chiang Mai News
86 billion baht budget set for Chiang Mai light rail system
A green light for a go ahead of Chiang Mai’s planned light railway transit system has been issued by the Mass Rapid Transit Authority of Thailand (MRTA). Chiang Mai City Life is reporting that, following an initial approval for the project back in August 2017, the MRTA has finally given the green light to start the formal planning and construction…
- Phuket News
Phuket pockets billion-baht infrastructure budget
PHUKET: A billion-baht budget for infrastructure development for 2017-2018 has been approved for Phuket, Governor Chokchai Dejamornthan announced last week. The budget is slated to improve traffic congestion and overall infrastructure development in Phuket, including building, extending and maintaining roads; installing CCTV cameras; burying overhead cables; beach development; and building and maintaining underpasses. Additionally, Governor Chokchai has re-ignited interest in…
- Thailand News
Thailand restaurant market to hit 400 billion baht in 2024
Central Restaurants Group (CRG) anticipates a 5% sales growth in 2024, driven by the digital wallet handout scheme, while Thailand’s restaurant market value is projected to reach 400 billion baht this year. Nath Vongphanich, CRG President, addressed the ruling Pheu Thai Party’s upcoming 10,000-baht digital wallet handout scheme, expected to launch in the fourth quarter. He mentioned that the company…
- Thailand News
Thailand’s digital wallet disaster: MFP oppose budget
Opposition parties have taken a firm stand against the supplementary budget bill, targeting the controversial digital wallet scheme. Estimated at a staggering 450 billion baht, the scheme is criticised for its alleged inefficacy in boosting the GDP and potential legal issues, which could set a detrimental precedent for future national budgeting and fiscal policies. Sirikanya Tansakul, Deputy Leader of the…
- Thailand News
Thai Education Ministry advances tablet initiative despite budget cut
Thailand’s Education Ministry continues to advance its tablet distribution initiative, despite a budget reduction from 16 billion to 13 billion baht. Siripong Angkasakulkiat, an assistant to the Education Minister, confirmed the ministry’s commitment to the project yesterday. Education Minister Police General Permpoon Chidchob is spearheading the One District, One Quality School project. This initiative aims to consolidate educational resources, both…
- Business News
Thailand disburses 3.48 trillion baht budget to boost economy
An injection of 3.48 trillion baht from the 2024 fiscal budget has finally been disbursed in the second quarter of this year, following delays that began on October 1 last year due to political setbacks after the General Election in May 2023. With economic growth stagnating, public expenditure is seen as a crucial factor to revive subdued private spending and…
- Thailand News
Thailand plans 50 billion baht tunnel expressway in Bangkok
The Expressway Authority of Thailand (EXAT) announced plans to construct a 50 billion baht tunnel expressway connecting Kaset and Ngamwongwan. Public opinion on the project will be gathered and considered on July 13. EXAT Governor Surachet Laophulsuk revealed that the third public hearing will finalise the feasibility study for the northern section of the Third Stage Expressway System, specifically the…
- Thailand News
Thailand and France boost defence ties with 200 billion baht deal
Thai and French officials convened a special seminar to enhance the defence industries of both nations, with Thailand aiming to procure defence products valued at 200 billion baht over the next two decades. Defence Minister Sutin Klungsang and the French Ambassador to Thailand Jean-Claude Poimboeuf opened the Thailand-France Seminar on the Defence Industry 2024 at the Office of the Permanent…
