Search Results for: budget increase
- Thailand News
Thailand’s agriculture ministry seeks triple budget increase to boost farmer income
A request for a substantial budget increase to 411 billion baht for the upcoming fiscal year has been put forward by Thailand’s Ministry of Agriculture and Cooperatives. The proposed budget, which is over three times larger than the previous year’s allocation, aims to triple the income of farmers within the next four years. Chantanon Wannakejohn, serving as the Secretary-General to…
- World News
China’s military budget increases 7.1% in 2022, Taiwan not afraid
China has allotted 1.45 trillion yuan for military spending in 2022. That’s the equivalent of US$229.5 billion and a whooping 17 times Taiwan’s defense spending for the year, according to a report by the Taipei Times. On Saturday, the Chinese Ministry of Finance issued a statement saying the nation’s defense budget would increase 7.1 percent from last year, signaling a…
- Politics News
Thanathorn demands answers over budget increase for Royal office
Progessive movement leader and former head of the now-defunct Future Forward Party Thanathorn Juangroongruangkit has been banned from politics for 10 years… but he’s still making his voice heard in the halls of power. In his capacity as an advisor to the House committee examining the budget bill, he questioned the justification for the increase in the budget for the…
- Business News
Thai government increases 2025 budget deficit for economic boost
The Government of Thailand has sanctioned a rise in the 2025 budget deficit by an extra 153 billion baht, to instigate an economic boost. As a result, the budget will increase to 3.752 trillion baht, a significant hike from the previously planned 3.6 trillion, according to Chalermphol Pensoot, the Budget Bureau director at the Ministry of Finance. The budget deficit…
- 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
Thailand’s airports hit new highs as passenger numbers increase
Thailand’s six international airports, operated by Airports of Thailand (AOT), witnessed a record-breaking influx of passengers in the first five months of 2024. Transport Minister Suriya Juangroongruangkit announced a whopping 52.16 million travellers, marking a 20.28% rise compared to the same period last year. AOT manages six key airports: Suvarnabhumi, Don Mueang, Chiang Mai, Mae Fah Luang, Phuket, and Hat…
- Thailand News
Thailand approves 3.75-trillion-baht budget for 2025 fiscal year
Thailand’s House of Representatives approved the 3.75-trillion-baht budget bill for the 2025 fiscal year late yesterday with 311 votes in favour, 175 against, and two abstentions. A special 72-member House committee has been established to scrutinise the bill, consisting of 18 Cabinet representatives and 54 members from both government and opposition parties. This committee will convene its initial meeting tomorrow…
- 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
Increased rainfall unlikely to cause 2011-like floods, says ONWR
Increased rainfall expected in the coming weeks due to the La Nina phenomenon is unlikely to lead to a repeat of the devastating 2011 floods, according to the Office of the National Water Resources (ONWR). ONWR Chief Surasee Kittimonthon confirmed that weather reports predicting less frequent rain this year suggest a low likelihood of major flooding similar to the 2011…
- Business News
Budget airlines push jet fuel tax cut to reduce airfare prices
Budget airlines have issued an appeal to the Finance Ministry to reduce the excise tax on jet fuel, to help mitigate their operational costs with the fragile state of the industry. Following a meeting with representatives from low-cost airlines, Deputy Finance Minister Julapun Amornvivat reported that the carriers discussed economic challenges and reiterated their commitment to supporting government measures aimed…
- Lifestyle
Staying budget-friendly in Thailand when the cost is rising
Navigating the financial landscape of a bizarre locale like Thailand can be a daunting task, especially with rising costs. Whether you’re planning a holiday or considering a relocation, understanding how to stay budget-friendly in this beautiful country is crucial. From accommodation to meals, activities to transportation, costs can vary significantly. But don’t fret, with some smart planning and insider knowledge,…
- Thailand News
Thai govt boosts support for park rangers with wage increase
The Thai government has taken a significant step to strengthen the crucial efforts of national park rangers by introducing a series of measures to improve their welfare and support. Among these measures is a wage increase, serving as a clear acknowledgement of the invaluable contributions made by park rangers across the country. The Director-General of the Department of National Parks,…
- 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
Government’s financial burden increases with digital wallet project
The government’s financial burden, expressed as the ratio of interest to estimated government revenue, is expected to rise from the current 8% to 11% in the coming year. This projected increase is due to the implementation of the government’s flagship digital wallet handout. An anonymous source from the Finance Ministry revealed that the present 8% ratio aligns with an A…
- Business News
Thailand urged to increase renewable power target beyond 50%
A call for an increase in renewable power generation beyond the target of 50% outlined in the Power Development Plan (PDP) has been issued to the government. The PDP is due to be finalised in the second quarter of this year. This rise is essential since Thailand has pledged to achieve carbon neutrality, a balance between carbon dioxide emissions and…
- Search Engine Marketing (SEM)
Smart budget content marketing: Tips & strategies
Crafting a content marketing strategy that’s both effective and budget-friendly can feel like a high-wire act. You’re aiming to strike the perfect balance between engaging your audience and managing your resources. If you’re wondering where to set your spending, you’re not alone. On average, businesses allocate 25-30% of their marketing budget to content marketing. But it’s not just about how…
- Business News
Thai Cabinet ratifies 3.6 trillion baht budget for fiscal year 2025
The Thai Cabinet ratified a 3.6 trillion baht budget for the fiscal year 2025. This sees an expansion of the budget deficit to 713 billion baht, a 2.89% increase from the previous year. The new budget was approved by the Cabinet on Tuesday, following its presentation by the Budget Bureau. It was announced by the Deputy Government Spokesperson, Rudklao Suwankiri.…
- Politics News
Thailand’s opposition questions rising military budget amid promised reforms
Opposition parties in Thailand expressed concern over the budget allocations for the country’s military, arguing that these contradict the Pheu Thai Party’s commitment to reform and downsize the armed forces. The concerns were voiced during a debate on the 2024 budget bill, with Aekkarat Udomamnuay, an MP with the Move Forward Party (MFP), questioning the Defence Ministry’s request for 198…
- Thailand News
Government’s budget blunder: MFP MP slams 3.5 trillion baht bill
In a fiery critique that rocked the House of Representatives, Move Forward Party (MFP) MP Sirikanya Tansakun aimed at the government‘s 3.48-trillion-baht budget for 2024, labelling it a masterpiece of unprofessional blunders. On the opening day of the budget bill’s inaugural reading, Sirikanya, the deputy leader of MFP, unleashed scathing criticism, claiming that the government had failed to craft a…
- Business News
PTT’s OR diversifies with budget hotels and community malls at petrol stations
PTT Oil and Retail Business Plc (OR) is renewing its focus on diversifying its non-oil business ventures, with plans to construct budget hotels within its petrol stations and incorporate community malls catering to tourists. The company’s President and Chief Executive, Disathat Panyarachun, shared these developments. The next quarter will see OR onboarding a business consultant to oversee the hotel project.…
- Thailand News
Thailand’s civil servants to receive 20% salary increase over two years
Newly recruited civil servants in Thailand are set to receive a salary increase of 20% over the next two years. The decision, approved by the Cabinet, was announced by Danucha Pichayanan, the secretary-general of the National Economic and Social Development Council. The proposed plan by the Office of the Civil Service Commission (OCSC) is to increase salaries by 10% annually…
- Thailand News
Thai government approves 10% increase for civil servants starting at 18,000 baht
The Thai government approved a 10% salary increase for civil servants over a two-year period, beginning with new recruits. According to Danucha Pichayanan, Secretary-General of the National Economic and Social Development Council (NESDC), the first increment is expected to come into effect once the budget for 2024 is approved. Danucha explained that the salary adjustment will initially target newly inducted…
- Business News
Budget travel: Thai travelers choose affordability amid economic instability
In the wake of an unpredictable global economy, travellers are becoming increasingly cost-conscious. A recent survey by online travel agency Booking.com revealed that the majority of Thai citizens are apprehensive about the escalating cost of living and are thus curtailing their expenditure on travel, opting for budget travel instead. Michelle Gao, the regional manager for the Mekong region at Booking.com,…
- Business News
Thai hotels see surge in bookings as government agencies rush to spend budget
Thai hotels are seeing a bookings surge as government agencies rush to exhaust their fiscal 2023 budget ahead of the September cut-off. This comes following a period of stagnation in the booking of meetings due to the country’s political uncertainty. Marisa Sukosol Nunbhakdi, the Thai Hotels Association (THA) president, reported a 10-20% increase in both government and private sector meetings…
- Business News
Budget airlines hike flights to China amid sluggish post-Covid recovery
In an attempt to achieve post-Covid recovery, budget airlines across the globe have increased flight frequencies to China. However, travel and capacity are yet to reach pre-Covid volumes. On its side, the Tourism Authority of Thailand (TAT) is being circumspect about implementing a visa fee waiver scheme to draw in more international visitors. Despite loom border controls from the start…
- World News
Iraq approves record $153bn budget for infrastructure and job creation
Iraqi parliament has given the green light to a historic budget of 198.9 trillion dinars (US$153bn) for 2023, with the aim of addressing the nation’s increasing public wage bill and funding development projects to enhance services and rebuild infrastructure damaged by years of conflict and neglect. The budget, which covers 2023, 2024, and 2025, is the largest in Iraq’s history.…
- World News
Pakistan aims for $50bn budget to tackle economic crisis, unlock IMF funds
Pakistan’s government is set to present its annual budget, focusing on the nation’s precarious economic situation and the upcoming national elections. Finance Minister Ishaq Dar plans to propose a budget exceeding 14 trillion rupees (US$50bn), aiming for a 3.5% growth and a reduction in inflation to 21% from a record 38%. The government also hopes to generate over 9 trillion…
- Economy News
Thai coalition parties propose zero-based budgeting for efficiency
The implementation of zero-based budgeting (ZBB) has been proposed by the Move Forward Party (MFP) as part of a 23-point memorandum of understanding signed by eight political parties seeking to form a new coalition government. The MFP argues that the current budgeting system fails to address the public’s needs due to bureaucratic hurdles. ZBB requires state officials to justify expenses…
- World News
Green Party secures first Northern Ireland mayoral role amid budget cuts
The Green Party in Northern Ireland has achieved a historic milestone by securing its first-ever mayoral position, with Áine Groogan being appointed as the deputy lord mayor of Belfast. This development comes after the party lost three seats in the recent Northern Ireland council elections, including the seat held by party leader Mal O’Hara in Belfast. Today, seven of Northern…
