Thai Government
- 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…
- Thailand News
Democrat Jurin calls government budget plan ‘lame duck’
Jurin Laksanawisit, a Democrat party-list MP, slammed the Thai government, branding its budget a “lame duck catastrophe.” Unleashing a fiery critique, Jurin accused the ruling Pheu Thai Party of political trickery, leaving the nation teetering on an economic tightrope. Jurin took centre stage, launching an attack against the government’s budget yesterday, January 3. Describing it as a lame duck, he…
- Economy News
PM Srettha rallies coalition for upcoming budget bill debate
Prime Minister Srettha Thavisin has requested all coalition partners of the government to gear up for the upcoming debate on the Budget Bill for the fiscal year 2024. The bill, which aims to secure 3.48 trillion baht (US$101 billion) to fund the fiscal year that began in October, is due for its initial reading from January 3 to 5. The…
- 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…
- Thailand News
Government to shoulder Covid-19 insurance claims as insurers buckle under 60 billion baht payouts
Deputy Finance Minister Julapun Amornvivat has revealed that the Thai government may have to step in to assist with the hefty burden arising from Covid-19 insurance claims. The grim situation has seen total payouts skyrocket to almost 60 billion baht, leaving non-life insurance companies in shambles and prompting the closure of those unable to meet the financial demands. Julapun disclosed…
- Central Thailand News
Social Security Board candidates call for higher pension rates
A majority of the candidates in the race for the new Social Security Board have underscored the need to increase pension rates for retirees within the social security system. They also drew attention to the crucial requirement of enhancing transparency and efficiency in managing the Social Security Fund (SSF). The election, slated for December 24, will see over 800,000 registered…
- Thailand News
Overwhelmed businesswoman registers for Thai government’s debt relief scheme
A businesswoman, burdened with an overwhelming debt, registered for an out-of-system debt relief scheme. She owes money to 14 lenders and faces the daily challenge of finding more than 7,000 baht for interest payments at a rate of 20%. This move comes after the government, under Prime Minister Srettha Thavisin, has been focusing on resolving out-of-system debt issues for citizens…
- Thailand News
Thai government to construct new elevated tollways by 2028
The Thai Transport Ministry unveiled plans to construct two new elevated tollways to improve commuting in the country. These tollways will be built from Pathum Thani to Ayutthaya and from Nonthaburi to western Bangkok, with a combined estimated cost of 87 billion baht. The announcement was made by the Transport Minister, Suriya Juangroongruangkit, who laid out the details of the…
- Business News
Debate over Thai government’s digital wallet handout impact on public debt
The Thai government’s proposed 10,000-baht digital wallet handout has sparked debate, with concerns regarding its potential impact on public debt. Deputy Finance Minister Julapun Amornvivat stated that this economic stimulus is necessary as economic growth has averaged only 2% annually over the past decade, insufficient to support the country’s ageing population in the future. With low GDP growth, the government’s…
- Thailand News
Educational inequality sparks call for Thai government investment in human capital
The Equitable Education Fund (EEF) urged the Thai government to bolster investments in human capital to enhance the lives of students belonging to low-income families and curtail educational inequality. The call was made at the annual Equity Forum, held at the Bangkok Art and Culture Centre, to deliberate on the significance of such investments in addressing educational disparities. Kraiyos Patrawart,…
- Thailand News
Digital wallet boost: Thai government to inject 600,000 million baht into economy
The government is set to inject 600,000 million baht into the economy through the well-documented digital wallet initiative. This programme will provide 10,000 baht to Thai citizens aged 16 and above, with an income not exceeding 70,000 baht and savings of no more than 500,000 baht. The initiative, set to run for six months, will be applicable within the citizen’s…
- Thailand News
Government sets up command centre for visa-free Indian and Taiwanese tourists
A command centre has been established by the government in preparation for the influx of tourists from India and Taiwan. The visa-free entry policy, starting tomorrow, is expected to draw a significant number of visitors. The high season is around the corner, and to avoid overcrowding at Don Mueang and Suvarnabhumi airports, several agencies have been asked to contribute to…
- Thailand News
Thai govt reduces foreign worker visa fees to 500 baht to boost economy
Foreign worker visa fees for four nationalities have been reduced to 500 baht, with the fee changes expected to be enforced from November 11 for a duration of four years. This reduction aims to stimulate the Thai economy’s recovery by promoting the legal employment of migrant workers from Cambodia, Laos, Myanmar, and Vietnam. Somchai Morakotsriwan, currently acting as the Director-General…
- Economy News
Inflation rate in Thailand dips for first time in over two years
The Commerce Ministry of Thailand announced today that the country’s inflation rate has dipped for the first time in 25 months, primarily due to a drop in energy and food prices. This development is attributed to the government’s support measures. The consumer price index (CPI) noted a 0.31% reduction in October, compared to the same period last year. This contrasted…
- 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…
- Thailand News
Pheu Thai government opts for Chinese frigate
An unexpected turn of events saw the Pheu Thai-led government opting for a Chinese-made frigate over a submarine, after a prolonged period of uncertainty surrounding the original submarine purchase. The shift in decision came on the heels of China‘s inability to get the German-made MTU 396 engine for the submarine, as specified in the 2017 agreement. China’s suggestion of using…
- Thailand News
NACC probes Thai government’s 10,000-baht digital handout amid corruption fears
The National Anti-Corruption Commission (NACC) initiated an in-depth study into the Thai government’s policy for a 10,000-baht digital currency handout. This step comes as the agency intensifies its examination of the key policies of the ruling Pheu Thai Party. According to a source within the NACC, the decision was made following a suggestion from the agency’s corruption monitoring and appraisal…
- Thailand News
Thai firms to get tax cuts for aiding PM2.5 pollution reduction efforts
The government is set to grant tax incentives to Thai firms that financially support the mitigation of PM2.5 fine particulate matter, primarily resulting from forest fires. The Ministry of Natural Resources and Environment has expressed growing concern over the haze pollution expected to shroud the central and northern regions from November to March due to an extended drought period influenced…
- Business News
Thai government’s policy paradox: Digital wallet scheme and minimum wage hike under fire
The Thai government of Prime Minister Srettha Thavisin has faced significant challenges since coming to power seven weeks ago, with various commitments made during their campaign now under scrutiny. A crucial task includes the repatriation of Thai citizens affected by the Middle East conflict and the ongoing Israel-Hamas unrest. The Thai government’s promise to hike the daily minimum wage to…
- Thailand News
Thailand’s Social Security Office allocates 207 million baht for historic board election
The Social Security Office (SSO) in Thailand has allocated a budget of 207 million baht for the inaugural election of Social Security Board members. The event, slated for December 24, is a first in the history of the board, according to Boonsong Thapchaiyuth, the Security General. The Social Security Board, under the Social Security Act, serves as an intermediary between…
- Thailand News
JSCCIB for water: Thai committee floats idea to dip into digital wallet funds for H2O solutions
The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) proposed that the Thai government allocate a portion of its 560 billion baht digital wallet scheme budget towards supporting water management plans. The committee argues that Thailand needs immediate and long-term solutions to deal with flooding and drought, which is forecasted to affect the agricultural sector due to El Niño-induced…
- Business News
Thai retailers urge government to reassess import taxes on luxury goods
The Thai government is being implored to reassess the import taxes imposed on luxury goods to mirror the tax rates in neighbouring countries. This is a strategic move aimed at attracting foreign tourists and bolstering the competitiveness of Thai small and medium-sized enterprises (SMEs) against established foreign brands in the country. The call for this revision comes from Yol Phokasub,…
- Business News
Thailand’s mega land bridge project: an economic boon or environmental bane?
The Industry Ministry of Thailand is currently assessing the environmental impact of a proposed land bridge megaproject in the southern part of the country, a venture that promises to significantly bolster the Thai economy in the future. This assessment is crucial to determining the project’s viability and addressing any potential negative effects on the environment. The proposed land bridge, which…
- 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
Thailand reviews taxes and launches digital wallet to tackle income disparity
The Finance Ministry of Thailand is set to review the new land and building tax and the inheritance tax and launch the digital wallet following an order from Prime Minister Srettha Thavisin. The move aims to mitigate income disparity in the nation. PM Srettha, who also holds the Finance Minister post, gave the directive subsequent to the appointment of a new…
- Thailand News
Universal healthcare pilot scheme offers flexible hospital choice in Thailand
The Public Health Minister, Cholnan Srikaew, has announced the readiness of a new pilot scheme that will enable members of the universal healthcare (UC) programme to seek health services at any hospital. The initiative is aimed at enhancing healthcare delivery, providing UC members with the flexibility to seek eligible services at any hospital. It is expected that the scheme will…
- Tourism News
Phuket tourism and property sectors propose Andaman Wellness Economic Corridor
Phuket’s tourism and property development sectors have called on Prime Minister Srettha Thavisin to swiftly consider their proposal for an Andaman Wellness Economic Corridor (AWC). This initiative is intended to align with the global wellness trend, enhancing the tourism industry and related investments. This came to light during the Prime Minister’s recent visit to Phuket and Phang Nga, where he…
- Thailand News
Birth rate plunge triggers health minister’s urgent action plan
The national birth rate in Thailand is on a steep decline, prompting urgent action from the country’s Minister of Public Health Chonlanan Srikaew. He plans to push fertility to the forefront of the country’s national agenda, aiming for swift implementation within 100 days as part of the ministry’s “quick win” policies. Chonlanan revealed after Friday’s executive meeting that the current…
- Thailand News
Thai PM’s digital wallet pick: Pao Tang app unlocks blockchain integration
Prime Minister Srettha Thavisin announced yesterday that the government has chosen the Pao Tang app, operated by Krungthai Bank, for its digital wallet initiative. The integration of the app with blockchain technology was confirmed by Srettha during a policy meeting with executives from the Finance Ministry. The government is prepared with a sufficient budget to roll out a 10,000 baht…
- Thailand News
Thai PM ‘splits’ salary option sparks debate among civil servants
Prime Minister Srettha Thavisin yesterday responded to criticisms surrounding the recent Cabinet resolution, which offers civil servants the option of receiving their monthly salary in two instalments instead of the usual single payment. The resolution, primarily aimed at stimulating the economy, was unveiled during the first Cabinet meeting of his administration on Wednesday and is tentatively set to start in January.…
