budget
- 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
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
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…
- 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,…
- 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…
- 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…
- 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…
- Thailand News
Thai land bridge megaproject to include compensation fund
Transport Minister Suriya Jungrungreangkit announced that the appointed contractor for the upcoming southern Land Bridge megaproject will have the responsibility of creating a fund dedicated to compensating those who will be affected by the construction. This move comes following a Cabinet visit to Ranong province, where concerns were raised by locals about potential losses and displacement due to the massive…
- Thailand News
Democrat Party’s dwindling popularity prompts talks of new political formation
The Democrat Party is grappling with dwindling popularity as internal disputes have left it in a state of chaos. The party, known for its astute opposition role, recently reviewed the government’s budget bill for 2024 in a parliamentary debate. However, the past few years have seen the party suffer from various setbacks, including the departure of experienced party members and…
- 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.…
- Thailand News
Srettha promises to save Thailand from fiscal chaos
In a parliamentary revelation yesterday, January 5, Prime Minister Srettha Thavisin admitted that his government had inherited the controversial fiscal 2024 budget and was scrambling to make necessary improvements. Opposition MPs, particularly from the Democrat Party, unleashed a barrage of complaints, alleging unfair budget allocations that left southern provinces in the lurch. PM Srettha found himself in the hot seat…
- 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…
- 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$101.52 billion), was presented today by Prime Minister and Finance Minister Srettha Thavisin in the House of Representatives. This event marked the start of a three-day debate among lawmakers. PM Srettha emphasised the importance of the budget to Parliament. “The budget is crucial in moving the economy forward.”…
- Thailand News
Thai prime minister ready for key 2024 fiscal year budget bill debate
Thailand Prime Minister Srettha Thavisin confidently announced yesterday his readiness to participate in the upcoming debate on the 2024 fiscal year budget bill. The discussions are set to kick off tomorrow, January 3. PM Srettha revealed that a series of discussions with coalition partners in preparation for the debate had taken place before the new year holiday. The primary aim,…
- Thailand News
Thai government’s budget bill for 2024 fiscal year under scrutiny
The Thai government’s budget bill for the fiscal year 2024 is under scrutiny as Sanphet Boonyamanee, a Democrat MP for Songkhla, raises concerns over major budget cuts and potential misrepresentation of off-budget funds. He reveals that despite the government’s request for 3.48 trillion baht (US$ 99,917,725,200) for the 2024 fiscal year, state agencies had initially asked for up to 5.8…
- Thailand News
Huge deficit in 2025 fiscal year
The government has laid bare its plans for the 2025 fiscal year, unveiling a colossal budget deficit of 713 billion baht. This unprecedented move comes hand in hand with a staggering increase in spending, soaring to 3.6 trillion baht, leaving citizens and experts alike scratching their heads. The ambitious forecast also includes a predicted gross domestic product (GDP) growth of…
- Economy News
Thailand’s biggest budget requests come from interior, education, finance ministries
Thailand’s parliament has disclosed that the Interior, Education, and Finance ministries are making the largest budgetary requests for the ongoing fiscal year. The budget bill, which governs annual expenditure, is set for its initial reading from January 3 to 5, and is anticipated to be approved by April. This follows a delay due to the transition from the preceding to…
- Thailand News
Update: Progressive social security triumphs in historic election
In a groundbreaking victory, the Progressive Social Security group clinched triumph in the nation’s inaugural Social Security Board (SSB) election on December 24, as the final vote count approached completion. The election, a pivotal moment in shaping the future of social security, saw the selection of 14 new board members by members of the Social Security Fund (SSF). Half of…
- Thailand News
Will the 2024 fiscal year save the Thai economy?
Deputy Finance Minister Julapun Amornvivat revealed that Thailand‘s eagerly awaited 3.48 trillion baht budget for the 2024 fiscal year won’t see the light until early May. Originally set to kick off on October 1, the budget got tangled in the web of politics, with May’s election and the lengthy government formation process pushing the official start to September 5. According…
- Thailand News
House committee formulates 2024 budget proposal
The House committee responsible for scrutinising planning and monitoring budget expenditure is formulating a budget proposal for next year. The proposal is expected to be reviewed by the House in early January. Natthapong Ruangpanyawut, the committee’s chair and a list MP of the Move Forward Party, confirmed that the panel is currently processing budget requests from various state agencies. These…
- 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
Sky skirmish looms: Low-cost airlines face turbulence from price-dumping giants
The survival of emerging low-cost carriers in Southeast Asia could be threatened as dominant airlines may resort to price-dumping strategies to safeguard their market share. The airline industry’s seat recovery is also projected to take a decade to fully bounce back. Really Cool Airlines’ Chief Executive, Patee Sarasin, previously the chief executive of Nok Air, expects to obtain the Air…
- Thailand News
Thai government denies plans to slash digital wallet initiative budget, aimed at boosting economy
The Thai government has refuted rumours of cutting funds for the digital wallet initiative from 560 billion baht (US$ 15,426,997,600) to 400 billion baht (US$ 11,019,284,000), stating that the project is not just for the underprivileged but aimed at stimulating the economy more broadly. The government is keen on weeding out the wealthy from benefiting from the scheme, which is…
- Thailand News
Thai Military Commission’s six-point plan to scrutinize budget and troop size
Wiroj Lakkhanaadisorn, a member of the Future Forward Party and chairman of the Military Commission, revealed a six-pronged policy framework for the Military Commission of the House of Representatives, aimed at scrutinising the military budget and streamlining troop size. According to a Facebook post by Wiroj Lakkhanaadisorn, the Military Commission of the House of Representatives convened a meeting yesterday, at…
- Business News
Bonding for the future: Thai govt sets sail with expanded issuance
The director-general of the Public Debt Management Office (PDMO) yesterday asserted that the planned issuance of government bonds in fiscal next year will be proportionate and appropriate. The limit for bond issuance for the said fiscal year has been expanded by approximately 160 billion baht. Patricia Mongkhonvanit revealed the increase is intended to counterbalance the budget deficit for fiscal next…
- Business News
Economic data in China sees Asian stocks surge, Thai shares dip
Asian stocks experienced a significant surge yesterday, a continuation of the global equity rally, following encouraging Chinese economic data that sparked optimism about the imminent culmination of major central banks’ tightening initiatives. Despite the overall momentum, Thai stocks saw a slight dip of 0.3% from the prior week, closing at 1,542.03 on Friday, with an average daily turnover of 46.97…
- Thailand News
Elderly allowance scheme raises financial accessibility concerns in Thailand
In a bid to ease the strain on government finances, a transition from universal welfare payments to a stringent elderly allowance scheme has been initiated. This shift has been met with substantiated criticism, although the authorities maintain the necessity of the move, justifying it as a responsive adaptation to cope with Thailand’s rapidly ageing populace. In yesterday’s internal meeting of…
