budget
- 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…
- 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
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,…
- 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…
- Guides
Budgeting for beginners
The 50/20/30 rule is a beginner-friendly budgeting principle developed by Harvard economist Elizabeth Warren and her daughter Amelia Warren Tyagi. It breaks down income into three manageable categories. This approach ensures you cover essentials, save for the future, and enjoy life’s pleasures without guilt. It offers a clear path to financial stability and peace of mind. If you’re unsure where…
- 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…
- 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…
- 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
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…
- Thailand News
Royal Thai Air Force plans 19 billion baht for new fighter jets acquisition
The commander-in-chief of the Royal Thai Air Force (RTAF), Punpakdee Pattanakul, announced a budget request for the upcoming fiscal year totalling 19 billion baht (US$537 million), intended for the acquisition of new fighter jets. These could potentially be the US F-35 or Sweden’s Gripen E/F. Despite the recently instated government offset policy, Punpakdee’s comments suggest the RTAF’s determination to secure…
- 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.…
- Business News
Urgent call for faster use of investment budgets to boost the economy of Thailand
Business executives are urging the government to prompt state enterprises and local government organisations to speed up the use of current investment budgets and to roll out more stimulus packages. This is seen as a crucial step to propel the economy while awaiting the fiscal 2024 budget. The executives stress the importance of quick distribution of the 2024 budget once…
- 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$101.52 billion), was presented today by Prime Minister and Finance Minister Srettha Thavisin in the House of Representatives. This event marked the start of a three-day debate among lawmakers. PM Srettha emphasised the importance of the budget to Parliament. “The budget is crucial in moving the economy forward.”…
- Thailand News
Essential ascent: Despite fiscal twists, analysts predict vital goods to drive economic lift-off
Despite the financial rollercoaster, essential goods are set to expand. Analysts declare that essential goods will help boost the economy. The Thai Chamber of Commerce’s recent survey predicts a 1.5% dip in purchasing power, attributed to escalating interest rates, inflation, and the lingering pandemic hangover. Undeterred, consumers are rallying around staples like food, beverages, personal care products, household items, and…
- Thailand News
Thai government’s budget bill for 2024 fiscal year under scrutiny
The Thai government’s budget bill for the fiscal year 2024 is under scrutiny as Sanphet Boonyamanee, a Democrat MP for Songkhla, raises concerns over major budget cuts and potential misrepresentation of off-budget funds. He reveals that despite the government’s request for 3.48 trillion baht (US$ 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…
