fiscal boost
- Thailand News
House passes 3.7 trillion baht budget plan after tepid debate
After a three-day debate that barely sparked a fire, the House of Representatives finally pushed through the colossal 3.7 trillion baht budget bill for the 2025 fiscal year. In a vote held late last night, the bill was approved by a margin of 309 to 155, with four MPs opting to abstain, leaving no one without a voice. Deputy Prime…
- Thailand News
DJOP evaluates Thicha Nanakorn’s contract amid budget cuts
The Department of Juvenile Observation and Protection (DJOP) is evaluating whether to renew the contract of a seasoned expert in juvenile justice, Thicha Nanakorn amid budget cuts for hiring specialists. A document released today by the DJOP outlines a policy to reduce staff numbers, particularly specialists and experts, during the 2025-2028 fiscal years. This policy has led to Thicha’s resignation,…
- 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…
- Business News
Thai Finance Minister set to discuss policies with BOT
The freshly appointed Finance Minister today expressed his readiness to engage in discussions with the governor of the Bank of Thailand (BoT) to align fiscal and monetary policies. Pichai Chunhavajira, who is also the Deputy Prime Minister of Thailand, stated to journalists that collaborating with the BoT on policy coordination is part of his job responsibilities. Pichai expressed confidence that he…
- Thailand News
Malaysia’s economic miracle: 2024 boom predicted with a twist
RAM Rating Services Berhad reveals Malaysia‘s economic future, promising significant growth next year. RAM Rating Services Berhad said in its Economic Outlook 2024 report to get ready for an economic renaissance. The tantalising revelations point towards a potential external demand turnaround, setting the stage for a dazzling economic performance. The domestic front is gearing up for a resilience revolution, riding…
- 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
Thai tourism revolution: Duty-free ditch and booze bonanza
In a bold move set to redefine Thailand‘s tourism landscape, the Finance Ministry is gearing up to propose changes that could reshape the way tourists spend their cash. The Finance Ministry is set to pitch a revolutionary plan to Cabinet today, December 19, aiming to suspend duty-free shops in the arrivals section of all airports. Lavaron Sangsnit, the ministry’s permanent…
- Business News
Thailand economy: Fiscal position to suffer due to government policies like digital wallet scheme
Thailand’s fiscal position is predicted to face a downturn in the medium term, according to analysts, as the government advances populist policies such as the digital wallet scheme. BMI, a division of Fitch Solutions, forecasts that the nation’s budget deficit will escalate from 2.9% in the current fiscal year to 3.6% in the following fiscal year. This is due to…
- Business News
Khon Kaen Chamber urges rapid election endorsement for timely fiscal boost
The Khon Kaen Chamber of Commerce urged a swift endorsement of General Election results to ensure the timely allocation of the fiscal 2024 budget for the Thai economy. Channarong Buristrakul, the chamber’s president, stressed the importance of forming a new government without delay and removing any hindrances to effective governance. The chamber emphasized the need for a new government to…
