budget
- 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
3.48 trillion budget approved by Cabinet for next year
Prime Minister Srettha, in a post-Cabinet meeting press conference declared that the budget bill, meticulously scrutinised by the Office of Council of State, will be delivered for approval. Typically, budget bills are sealed and delivered before the fiscal year kicks off in October. However, this year’s extravaganza faced a dramatic delay, thanks to the intricate dance of forming a coalition…
- 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
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,…
- Phuket News
Phuket: 3 billion baht for pipeline to solve water issues and boost tourism
Phuket officials announced plans to yet again request a budget exceeding 3 billion baht for the construction of a water supply pipeline from Phang Nga to Phuket, aiming to resolve ongoing water issues and bolster tourism in the region. The budget request confirmation emerged during a meeting led by Phuket Governor Sophon Suwannarat at Phuket Provincial Hall. The meeting highlighted…
- 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 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…
- 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…
- 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
Pattaya sets 1.9 billion baht budget aiming to revitalise tourism and local economy
Emphasising tourism and local economy stimulation, the city of Pattaya has delineated its budget allocation for the upcoming fiscal year. Paramet Ngampichet, the Mayor of Pattaya City, announced the conclusion with the budget set to be effective from October 1. In a recent meeting participated in by municipality executives, councillors, and local government entities, a resources allotment of 1.9 billion…
- Business News
Penny-pinching plans: Finance ministry’s welfare budget shuffle in the works
In an attempt to ease the strain on government spending, the Ministry of Finance is contemplating new measures regarding the allocation of the public welfare budget, an anonymous source from the finance ministry disclosed. This primarily pertains to the bracket of public welfare budget expenditure which, the source identifies, consists of redundant items that do not necessarily correlate with the…
- Business News
Thailand boosts tourism budget to 5 billion baht
The Tourism Authority of Thailand (TAT) announced its plans for the fiscal year 2024, with a focus on growing off-peak customers, increasing spending per trip by 7%, and distributing income to a wider range of destinations. The budget for these initiatives is set at 5 billion baht, a significant increase from the 3.25 billion baht allocated for fiscal 2023. TAT Governor…
- 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…
- Business News
Economist warns of panic as new Thai government risks fiscal sustainability
Concerns about fiscal sustainability have been raised by Kiatnakin Phatra Securities (KKP), as the new government‘s potential “addiction to budget deficits” may cause panic in the stock market. KKP’s chief economist, Pipat Luengnaruemitchai, expressed his apprehensions regarding the country’s fiscal outlook if excessive expenditure is allocated by politicians and the government without a clear financing plan. As Thailand prepares for…
- Business News
New government has room to spend 2 trillion baht on populist pledges
The upcoming government is expected to have around two trillion baht at its disposal for implementing its populist policies, according to an anonymous source from the Finance Ministry. The figure takes into account the 500 billion baht needed for the Pheu Thai Party’s pledge to provide digital wallet handouts of 10,000 baht to those aged 16 and over. Should the…
- Bangkok News
Bangkok voted No.3 top destination for backpackers 2023
Thailand‘s capital Bangkok sits among the top destinations for backpackers in 2023, according to UK retail company Cotswold Outdoor. Bangkok is a backpacker’s dream with cheap accommodation, delicious street food for a bargain, inexpensive beers, free activities, and a variety of public transport systems. While Thailand offers plenty of luxury travel options, it’s easy to have a blast in Bangkok…
- Thailand Hotels
Discover Thailand’s best budget friendly accommodation
Are you planning a trip to Thailand but worried about your budget? Don’t fret! Thailand offers a plethora of budget-friendly accommodation options that don’t compromise on comfort and convenience. From the bustling city of Bangkok to the pristine beaches of Krabi and Phuket, there’s something for everyone. In this article, we’ll introduce you to the top 5 budget-friendly hotels in…
- Hot News
Nok Air cancels Nakhon Ratchasima-Chiang Mai flight routes
After just two months of operations, Thailand’s budget airline, Nok Air, is cancelling its flights from Nakhon Ratchasima to Chiang Mai province. The last flight took off yesterday morning with only 10 passengers on board. The move comes after the twice-weekly route saw low passenger numbers. The Bombardier Q400 turboprop aircraft that was used for the routes could carry up…
- Economy News
PM Prayut’s 3 trillion baht budget slammed ‘pointless’ by MFP leader
Opposition Move Forward Party leader Pita Limjaroenrat has slammed PM Prayut Chan-o-cha’s spending plans ahead of tomorrow’s budget bill as “pointless.” PM Prayut will defend the government’s 3.2-trillion-baht 2023 budget bill in a three-day House debate starting tomorrow, explain why the sum is so large and his spending plans for the fiscal year. But the MFP leader landed the first…
- Travel
Travel Tips: Top low-cost airlines for Thailand 2022
Thailand is an ideal country to travel to on a budget, especially when it comes to booking flights. Slightly larger than Spain, flying cross this tropical country is a breeze, ensuring short flights and cheap prices. Meanwhile, Thailand’s central location makes it the perfect launching pad for exploring Southeast Asia, with neighbouring Laos, Cambodia and Vietnam to the east and…
- Travel
Travel Tips: Top low-cost airlines for Thailand 2022
Thailand is an ideal country to travel to on a budget, especially when it comes to booking flights. Slightly larger than Spain, flying cross this tropical country is a breeze, ensuring short flights and cheap prices. Meanwhile, Thailand’s central location makes it the perfect launching pad for exploring Southeast Asia, with neighbouring Laos, Cambodia and Vietnam to the east and…
- Thailand Travel
A backpacker’s travel guide to visiting Thailand on a budget
Backpackers love trekking throughout the amazing Kingdom of Thailand. Thus, its ancient cities, local markets, exclusive hill, and a plethora of natural attractions are a dream for most travellers. However, along with backpacking, is the desire to spend as little as possible. Here, we have the best places to visit on a budget, which offer a great experience while remaining…
- Travel Guides
Top budget Airbnbs to rent in Bangkok
For Bangkok visitors, finding a place to rest is certainly at the top of the list, especially when there are so many accommodations in which to choose. From hotels to apartments, Thailand’s capital has it all available at your fingertips. Moreover, some of the coolest places to stay the night are, surprisingly, quite affordable. Instead of booking a hotel where…
- Expats
Aging American expat “living the dream” in Phuket on US $2,500 a month
An American says he is living the dream in paradise in Phuket for only US$2,500 a month. 70 year old Pete Bowen arrived in Thailand back in 2009 with only a suitcase and guitar after self-admittedly making an impulsive decision to sell his house and belongings and move across the world to look for a place in which he could…
- Tourism News
Dinner cruise in Bangkok on the Chao Phraya for only 650 baht | VIDEO
Imagine a romantic cruise on the Chao Phraya River in Bangkok. Or maybe just the finish to a long day of sight-seeing around the Thai city. Cruises on the Chao Phraya, looking back at the city of lights from the famous river is about as good as it gets. Some of the cruises can be quite expensive, although altogether worth…
- Transport News
The Phuket ‘light rail’ may end up being an electric bus instead
The Phuket mass rapid transport system, aka. Phuket Light Rail and Phuket Tram, is receiving more attention as the Mass Rapid Transit Authority of Thailand mull more changes to the design. The initial route, which would run from the Phuket Airport, follow the main north/south artery, Thepkasattri Road, then through Phuket Town and on to Chalong circle, has a projected…
- Phuket News
Phuket tops travel destination list of cheapest hotel prices – Dertour 2020 Price Index
Phuket tops a list of the cheapest travel destinations with a 1 night stay at a hotel costing on average less than $30 USD, according to a study by the German travel company Dertour. Phuket is going through what some say is a “crisis”, certainly a current tourist vacuum. The island province largely relies on income from foreign tourists, but…
