Search Results for: deficit
- Thailand News
Budget deficit: Government to unveil new economic measures
Amidst budget deficit concerns, the government will introduce new measures to boost the struggling economy next week, Prime Minister Srettha Thavisin announced today. Discussions about economic stimuli and the stock market were held with Finance Minister Pichai Chunhavajira yesterday evening. “A significant announcement on short-term, medium-term, and long-term measures will be made tomorrow or the day after.” When asked if…
- 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…
- 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
Thailand’s digital deficit weighs heavily on tech industry
The digital deficit in Thailand, estimated to be around 200 billion baht (US$5.56 billion) per year, is a major concern for tech industry leaders. The former president of the Thai e-Commerce Association, Pawoot Ponngvitayapanu, highlighted this issue to Parliament’s economic steering committee, urging them to address the deficit and informing the finance ministry. The deficit stems from Thailand consuming more…
- Thailand News
Thailand’s fitness deficit: Running endorsed to get the nation moving
Recent statistics from this year reveal that only 62% of the Thai population engage in sufficient physical activities, while over 38% don’t. To encourage an active lifestyle, Social Marketing Thaihealth (SMT) and its network have endorsed running as an affordable and accessible form of exercise. SMT and the Thai Health Day Run believe that running can pave the way for…
- Economy News
Fiscal budget deficits risks Thai economy, chief economist warns
Kiatnakin Phatra Securities’ chief economist issued a stark warning over the government’s increasing reliance on fiscal budget deficits, cautioning that such an approach could harm the economy over an extended period. Pipat Luengnaruemitchai openly criticised the government’s latest populist strategies, including a digital money initiative and reduced oil costs, stating that these measures could erode fiscal discipline. He further warned…
- Northern Thailand News
Umphang Hospital grapples with 40 million baht deficit due to Myanmar crisis
The Thai-Burmese frontier healthcare services face a financial crisis as a result of the current political turmoil in Myanmar. It has been reported that Umphang Hospital, situated in Thailand’s Tak province, has been hit by a considerable deficit of 40 million baht. The hospital has been forced to turn to the Ministry of Public Health for assistance. Umphang Hospital has…
- World News
Pakistan targets 6.54% deficit with $50.45bn budget to unlock IMF funds
Pakistan’s finance minister has announced a budget deficit target of 6.54% of economic output for the upcoming fiscal year, starting July 1. This figure is slightly lower than the current year’s revised estimate of 7%. The budget aims to satisfy the International Monetary Fund (IMF) to secure the release of bailout funds for the crisis-stricken country, which is due to…
- World News
Hong Kong Finance Chief warns of first budget deficit since 2004
Hong Kong’s Finance Chief, Paul Chan, says the city is about to record a budget deficit as a result of the protests that have rocked the territory since June, coupled with the ongoing US-China trade war. It will be the first budget deficit in fifteen years, the last one having been caused by the SARS crisis that hit the region hard,…
- World News
ASEAN meeting reports on global sugar deficit and opportunities for SE Asian countries
The ASEAN Sugar Alliance says there will be a global sugar deficit of about 2.5 million tonnes in 2019-20, and prices are expected to firm following a number of years of falling prices and surplus stocks. The prediction was reported at the fourth meeting of the ASEAN Sugar Alliance in Ho Chi Minh City yesterday. Market analyst, futures trading and risk manager…
- Thailand News
VAT hike will give more room for budget deficit: Sommai
PHUKET MEDIA WATCH – Thailand news selected by Gazette editors for Phuket’s international community VAT hike will give more room for budget deficit: Sommai The Nation / Phuket Gazette PHUKET: The Finance Ministry is likely to increase the value-added tax (VAT) by at least 1 per cent at the end of next year, giving it room to widen the budget…
- Thailand News
Phuket Gazette Thailand News: Mass refugees found may be Uighurs; Budget deficit to double; Yingluck pleas for clemency
PHUKET MEDIA WATCH – Thailand news compiled by Gazette editors for Phuket’s international community Unidentifiable group of Muslims nabbed The Nation / Phuket Gazette PHUKET: A group of 220 reportedly Muslim immigrants, whose nationality and origin was not known to Thai authorities as of press time yesterday, have been arrested at a rubber plantation in the southern province of Songkhla.…
- Thailand News
Thai investors flee Myanmar chaos, pulling out 253 billion baht
Thai companies are fleeing Myanmar amid escalating conflict and economic instability. The ongoing clash between Myanmar’s military government and opposition forces shows no signs of easing, prompting Thai firms to withdraw a staggering US$7 billion (around 253 billion baht) in investments. Once the third-largest investors in Myanmar, Thai companies are now ranked 5th, with investments plummeting from US$11.6 billion in…
- Thailand News
Japanese tourists to flock to Thailand despite economic woes
To revive tourism, the Tourism Authority of Thailand (TAT) unveiled dynamic strategies to draw Japanese tourists back to the Land of Smiles. Despite the yen’s depreciation, TAT Tokyo Office Director Kajorndet Apichartrakul remains optimistic about reversing the deficit in tourist numbers with Japan. Last year, 995,000 Thai tourists visited Japan, while only 804,000 Japanese tourists came to Thailand, resulting in…
- Thailand News
Thailand delays legal advice on digital wallet funding
The Thailand government has not yet sought legal advice from the Council of State regarding the use of funds from the Bank for Agriculture and Agricultural Cooperatives (BAAC) to partially finance the digital wallet scheme, confirmed Pakorn Nilprapunt, Secretary-General of the Council. Pakorn clarified that the government does not need to consult the council if it plans to use money…
- Business News
Credit agencies highlight Thailand’s EEC as key to industrial growth
Credit rating agencies underscore the significance of Thailand’s Eastern Economic Corridor (EEC) project in advancing the nation’s industrial sector and boosting competitiveness, according to the Public Debt Management Office (PDMO). The public debt advisor for PDMO, Jindarat Viriyataveekul, indicated that credit rating agencies have been closely observing the EEC project’s progress for years due to its pivotal role in shaping…
- Thailand video news
Thailand Video News | Tourists flee as tuk tuk leader threatens taxi driver in Patong, Student electrocuted turning off water dispenser at Thai school
In today’s Thailand Video News, Alex and Jay talk about the confrontation between a tuk tuk tour leader and Patong taxi driver causing tourists to flee to safety. A student at a high school in Trang Province has been fatally electrocuted after turning on a water dispenser at a school sports day. Police have arrested two people in Chiang Rai…
- 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’s exports surge in May with agricultural products
Thailand’s exports reached their highest level in 14 months, achieving a 7.2% year-on-year growth in May, largely due to a surge in agricultural products. Director-General of the Trade Policy and Strategy Office Poonpong Naiyanapakorn announced that the value of exports in May expanded to US$26.2 billion (approximately 960 billion baht), marking a significant gain of 7.2%. Thai shipments, excluding gold,…
- Thailand News
Police target tourist scammers in major Pattaya cleanup
To make Pattaya safer for tourists, the Tourist Police Bureau has joined forces with the embassies of five countries to combat tourist scams and dismantle 10 criminal gangs operating in the bustling resort city. Bureau Commissioner Police Lieutenant General Saksira Phuek-am led a crucial meeting on Thursday to establish robust safety measures for tourists in Chon Buri’s popular destination. The…
- Thailand News
Deputy PM defends mammoth borrowing to jump start growth
In a heated parliamentary session yesterday, Deputy Prime Minister and Finance Minister Pichai Chunhavajira staunchly defended the government’s proposal to borrow a staggering 865 billion baht to mitigate the fiscal 2025 budget deficit. Pichai argued that this bold move is essential to rejuvenate Thailand’s languishing economy and achieve targeted GDP growth. He assured lawmakers that the loan would adhere strictly…
- 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
Finance minister: Digital wallet funds to exclude mobile phones
Deputy Finance Minister Julapun Amornvivat urged the Commerce Ministry to reconsider its decision to permit recipients of the 10,000-baht payout from the digital wallet scheme to use the funds on mobile phones. He argued that this move would not benefit the domestic economy as intended. Prime Minister Srettha Thavisin shares these concerns, noting that most mobile phones are either manufactured…
- Thailand News
Crisis in Thai industry: Are major collapses on the horizon?
Thailand’s industrial sector is teetering on the brink of a crisis as rapid technological advancements, fierce competition from China, and a planned hike in the daily minimum wage threaten to trigger a massive collapse. With two Japanese car giants, Subaru and Suzuki, set to shut down their manufacturing operations in Thailand, the situation is dire. KKP Research reports that 1,700…
- Business News
Bonding issues: Political turmoil shakes Thai investor confidence
Thailand’s escalating political risks are making foreign investors hesitant about the nation’s bond market, despite a cautious return in May after a six-month break. In May, global funds bought US$511 million worth of Thai bonds, a notable difference compared to larger acquisitions in Indonesia, India, and South Korea. Comparative indicators of foreign investment show Thailand lagging behind its regional counterparts.…
- Covid-19 News
Covid-19 will make you stupid
Recent studies have unveiled a troubling connection between Covid-19 and cognitive decline, suggesting that even mild infections can lead to a measurable reduction in intelligence. This revelation, supported by extensive research from institutions around the world, has sparked concern among scientists and the general public alike. These study findings and the implications for individuals and society are worrisome and unsettling.…
- Business News
Thailand to issue US$1.1 billion sustainability-linked bonds
Thailand will issue up to US$1.1 billion (40 billion baht) in baht-denominated sustainability-linked bonds (SLBs) in the coming months, marking the first such offering by an Asian government. This initiative aims to address both the nation’s budget deficit and its environmental commitments. According to the public debt advisor at the Ministry of Finance, Jindarat Viriyataveekul, the proceeds from the bond…
- Thailand News
Making cents: Thai PM showers BoT governor with praise
During the Council of Economic Ministers’ meeting yesterday, Prime Minister Srettha Thavisin showered praise on Central Bank Governor Sethaput Suthiwartnarueput for his constructive opinions on economic measures. This commendation comes hot on the heels of criticism from the PM’s adviser, Pichai Naripathaphan, who had lambasted the central bank for its inaction in supporting the government’s efforts to spur economic growth.…
- Thailand News
Thai teenager with ADHD stabs uncle to death in Phuket
A 15 year old Thai boy stabbed his 60 year old uncle to death last night in a rented room in the Thalang district of Phuket. Officers from Thalang Police Station were alerted to the fatal stabbing incident at a rented room in the Thalang district of Phuket at about 7pm yesterday, May 27. The victim, 60 year old Somkiat…
- Business News
Thailand PM calls urgent meeting with economy ministers
Thailand Prime Minister Srettha Thavisin called for an urgent meeting with economy ministers to discuss short-term economic stimulus measures to address Thailand’s sluggish economic performance in the first quarter of 2024. The National Economic and Social Development Council (NESDC) reported that Thailand’s economy grew by only 1.5% year-on-year for the first three months of 2024. This lacklustre growth has prompted…
