budget
- 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 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
PM Srettha’s 122 billion baht budget boost to stimulate economy
Prime Minister Srettha Thavisin launched the first reading of an additional budget for fiscal 2024, earmarking a whopping 122 billion baht for economic stimulus through the digital wallet scheme. Addressing the House, the Thai Premier outlined the government’s plan to disburse a 10,000-baht digital handout, aimed at enhancing the quality of life and generating job opportunities. “We cannot afford to…
- Thailand News
Thailand slashes digital wallet budget amid corruption fears
The Thai government has decided to slash the budget for its digital wallet scheme from 500 billion baht to 450 billion, scrapping plans to borrow 170 billion baht from the Bank for Agriculture and Agricultural Cooperatives (BAAC). Deputy Finance Minister Julapun Amornvivat announced the decision yesterday, July 10, citing corruption concerns raised by the National Anti-Corruption Commission (NACC). Julapun revealed…
- Thailand News
Thailand’s oldest oilfield to get 300 million baht redevelopment
Thailand’s oldest oilfield is set for redevelopment with a budget of 300 million baht, as announced by the Defence Energy Department’s Northern Petroleum Development Centre (NPDC). The redevelopment plan of Fang Oilfield in Chiang Mai includes upgrading the oil refinery to Euro5 standards, enabling it to produce lower-sulphur diesel that is safe for car engines, according to Montri Jeennakorn, director…
- Thailand News
Revised debt management plan pushes borrowing to 1.03t baht
The Thai Cabinet approved a revised public debt management plan for the 2024 fiscal year, incorporating an additional 275.87 billion baht in borrowing. Of this, 269 billion baht is designated for direct government use and lending to state enterprises for debt restructuring. According to Deputy government spokesperson Rudklao Suwankiri, this revision increases the total new borrowing for the current fiscal…
- Thailand News
Thailand boosts financial aid for dependent individuals
The Government of Thailand is set to increase annual financial aid for dependent individuals from 6,000 baht to 10,442 baht per person while expanding the target group to cover up to 600,000 people. Deputy government spokesperson Karom Ponpolklang announced today, July 3, that each year, approximately 320,000 dependent individuals receive care from the state. However, additional groups in the community,…
- 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…
- Phuket News
Phuket board urges better waste separation management
Phuket grapples with the challenge of managing its daily solid waste, with waste separation emerging as a critical focus. Members of the Phuket Provincial Governance Board yesterday conducted an inspection of the Phuket Provincial Waste Disposal Centre and Incinerator at Saphan Hin. Peeraphit Aongcharoen, Vice Chairman of the Board, led the delegation to monitor and assess the progress of budget…
- Thailand News
Budget battle: Defence minister stands his ground on expenditures
During the ongoing budget debate in Parliament, Defence Minister Sutin Klungsang fiercely defended his military spending plans against a barrage of criticism from the opposition. The Move Forward Party (MFP)’s Wiroj Lakkanaadisorn launched a scathing attack on the defence budget last Friday, June 21, accusing it of prioritising troop salaries and benefits over the advanced weaponry necessary for modern warfare.…
- 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
MFP urges budget reform, reassures public with its scrutiny efforts
In a heated budget debate, the Move Forward Party (MFP) claims a significant victory in its relentless scrutiny of the 2025 budget. Party leaders assure the public that their meticulous examination has met expectations, confident that their efforts won’t disappoint. Natthapong Rueangpanyawut, a party-list MP from MFP, highlighted a pressing issue during the debate: the need for fundamental budgetary reform.…
- 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
PM Srettha unveils 3 trillion baht economic boost plan
Prime Minister Srettha Thavisin rolled out a mammoth 3.753-trillion-baht economic revival blueprint aimed at turbocharging Thailand’s financial fortunes. As lawmakers embarked on a heated three-day debate, the Bangkok-born Thai PM pitched his vision to rejuvenate the sluggish economy, promising a surge in growth. In a bid to unleash Thailand’s economic potential, Prime Minister Srettha Thavisin proposed a hefty 3.753 trillion baht…
- 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…
- Thailand News
Thailand investment budget hits nearly 40% in third quarter
Government investment budget disbursement in the third quarter of this fiscal year surged to almost 40%, nearly doubling the set target due to accelerated disbursement measures, according to Finance Minister Pichai Chunhavajira. After chairing a meeting of the Budget Disbursement and Public Spending Acceleration Committee, Pichai stated that the swift allocation of the government investment budget has facilitated a quicker…
- 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…
- Thailand News
Labubu yantra tattoos capture spiritual community’s interest
The ongoing trend for Popmart’s Labubu art toys has now expanded beyond fashion enthusiasts to also captivate the spiritual community. The Labu Bu Phoksap Yantra, a new tattoo design, originated from AjarnAmsri Ohromyan’s Facebook post, where he shared images of the Yantra inspired by the popular Labubu character. AjarnAmsri explained that the yantra’s creation stemmed from his daughter’s love for…
- Politics News
BMA’s waste management strategy saves 141 million baht
BMA is pleased with the No, Pouring In project, a budget reduction of 141 million baht, visiting the Khlong Toei Market area to meet the services that are managing 18 tonnes of vegetable scraps. Aekvarunyoo Amrapala, BMA Spokesperson and Assistant Secretary to the Governor of Bangkok, along with the director of Khlong Toei District visited the area to meet with…
- Automotive
10 essential questions to ask before buying a car in Thailand
Embarking on the endeavour to purchase a vehicle in Thailand presents both exhilarating opportunities and formidable challenges, particularly for those who are unacquainted with the local market and its distinctive characteristics. Whether one is an expatriate residing in Thailand or a native entering the dealership for the initial time, possessing knowledge of pertinent inquiries can significantly mitigate complications and facilitate…
- Tourism News
Thai tourism industry supports reintroduction of 300 baht tourist fee
Tourism industry stakeholders in Thailand voiced their support for the reintroduction of a 300 baht fee for incoming tourists, viewing it as crucial for generating funds for tourism development. The Tourism Council of Thailand (TCT) intends to discuss the project’s necessity with Sermsak Pongpanich, the incoming tourism minister. Surawat Akaraworamat, TCT’s Vice President, said that the Thai Chamber of Commerce…
- Business News
Pichai Chunhavajira announced as new Thai Finance Minister
The former Stock Exchange of Thailand (SET) chairman has been appointed as the new finance minister, a move that has garnered a positive reception from stock market analysts. They believe Pichai Chunhavajira will play an active role in managing the capital market and advancing economic stimulus, now that the 2024 fiscal budget is prepared for allocation. Expressing his view on…
- Guides
10 Signs you’re spending money wrong
In a world where the allure of instant gratification often overshadows the virtue of financial prudence, it’s alarmingly easy to fall into the trap of mismanaging one’s finances. The subtle art of spending money wisely is lost on many, leading to a cycle of financial strain that seems inescapable. Recognising the signs of poor spending habits is the first step…
- Business News
Comptroller-General Department tackles budget disbursement delay
The Comptroller-General’s Department is working to resolve the impediment in hastening budget disbursement, with a focus on speeding up budget funding into the economy for the fiscal year 2024. Director-General of the department Patricia Mongkhonvanit revealed that the delay in budget disbursement is majorly due to the high volume of appeals submitted by unsuccessful bidders for government projects. Each appeal,…
- Thailand News
Scandal hits Government House with 500,000 baht lawn
The eagerly awaited overhaul of Government House’s front lawn, allegedly costing a staggering 498,352 baht, is on the brink of completion, according to insider sources. An informant disclosed that Green Value Co Ltd clinched the lucrative project due to its unbeatably low bid among three contenders. Utilising Paspalam grass, renowned for its resilience in scorching climates and durability against heavy…
- Thailand News
Ryal Thai Navy appeal for frigate procurement funds rejected
A Thai government source revealed yesterday that the special House committee responsible for scrutinising the 2024 budget rejected a Royal Thai Navy (RTN) appeal against its decision to deny its request for budgetary funds for the procurement of a new frigate. The House committee dismissed the RTN’s appeal with a vote of 37 against and 16 in favour, along with…
- Business News
Thai government’s revenue collection could fall short in 2024
Deputy Finance Minister Krisada Chinavicharana expressed concerns that the government’s revenue collection for fiscal 2024 might not surpass the target, unlike the 174 billion baht (US$4.8 billion) surplus witnessed the previous year. This was announced at the Outstanding Revolving Fund Award event held yesterday. The government has projected an expenditure budget of 3.48 trillion baht (US$96 billion) for fiscal 2024,…
- 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…
- Thailand News
Saraburi’s new police station faces scrutiny over service gaps
A newly constructed police station at Hin Kong, Nong Khae, Saraburi, despite having a 10 million baht (US$279,466) budget, faces criticism for not providing police services to residents. Police Colonel Surachet Saenwong Na Ayutthaya, the chief of Nong Khae Police Station, responded to the concerns, explaining the situation and the steps being taken towards a resolution. Villagers in the Hin…
