The financial landscape of Thailand is set for a high-stakes summit next week as the Finance Ministry and the Bank of Thailand (BoT) converge to discuss the robust baht and recalibrate the national inflation target. The government, led by Deputy Prime Minister and Finance Minister Pichai Chunhavajira, is making a concerted push towards interest rate cuts. Minister Chunhavajira has announced an upcoming meeting with BoT Governor Sethaput Suthiwartnarueput to tackle the thorny issues of the baht’s appreciation, inflation targets, and other critical financial matters. According to informed observers, a potential interest rate cut is likely to dominate the discussions between the minister and the BoT governor. The government is keen to reevaluate the current 1-3% inflation target range that has been unchanged since 2020. This urgency arises from a persistent call for the central bank to mitigate the economic challenges by revising its interest rate strategy and potentially lowering the…
Posts published in “Thailand”
In a recent assessment, the government has pegged the total damage from the Northern floods at a substantial 3 billion baht. Deputy Finance Minister Julapun Amornvivat shed light on the situation yesterday, emphasizing the notable impact of the flash floods in the North. “But luckily, it didn’t last long,” Mr. Julapun remarked optimistically. The Office of the National Economic and Social Development Council provided an initial estimate of the flood damage, confirming the 3 billion baht figure. Mr. Julapun reassured that the devastation hadn’t spread out enough to cause a significant dent in this year’s economic growth. Efforts to aid and compensate the flood victims in both the Northern and Northeastern regions are in full swing, with various agencies putting in sustained efforts. Apisak Sawatdirak, manager of the Mae Sai Office of the Provincial Waterworks Authority (PWA), shared encouraging news yesterday – around 80% of the water supply had been…
Get ready to experience a leap in emergency preparedness! The long-awaited Cell Broadcast Service (CBS) system, aimed at delivering live weather warnings to all mobile devices in a designated area, is set to roll out by the second quarter of next year, as confirmed by the Digital Economy and Society (DES) Ministry yesterday. Digital Economy Minister Prasert Jantararuangtong provided some exciting insights, revealing that this comprehensive alert system will undergo rigorous testing in the first quarter. With this early testing phase, the CBS will compile and analyze data meticulously before dispatching any warnings, ensuring reliability and accuracy. So, how does this tech marvel work? Essentially, cell broadcast technology allows emergency alerts to be sent to all devices linked to mobile networks within a specified region. Unlike traditional SMS, which requires phone numbers, this innovative system leverages broadcast signals that blanket the entire area, enabling swift and efficient dissemination of critical…
The English Premier League (EPL) has rolled out an anti-piracy campaign in Thailand as the new football season takes off with the kick of a ball! For the second year in a row, the EPL, in collaboration with the British Embassy in Thailand, is driving the Boot Out Piracy campaign, aiming to safeguard intellectual property and encourage legal viewing of Premier League games. This initiative stretches its arms over Thailand and Indonesia, two hotspots in Southeast Asia. Its primary focus? To protect the exclusivity of Premier League live broadcasts and boost the preference for legal channels among fans. A recent gathering in Bangkok brought together key stakeholders, including law enforcement and authorities, to discuss the ongoing piracy issue. The reception was a charged event aimed at raising awareness about the detrimental impact of piracy on the sports industry. The message was clear: let’s protect the exclusive broadcasting rights held by…
Deputy Prime Minister Phumtham Wechayachai has signaled a potential retreat by the Pheu Thai Party on their proposed amendment to ethical standards for political officeholders, especially if faced with opposition from coalition partners. On Tuesday, Mr. Phumtham revealed that the ruling party was planning a critical meeting to discuss these Pheu Thai-sponsored amendment bills, emphasizing that any controversy or disagreement among coalition parties could lead to the proposal being shelved. Critics have lambasted the proposal as self-serving and contrary to the constitution’s original intent. The move appears to be a reaction to the Constitutional Court’s decision to remove Prime Minister Srettha Thavisin for an ethical violation, following his contentious appointment of former convict Pichit Chuenban as a cabinet minister. Mr. Phumtham, however, stressed that the amendment initiative wasn’t a top-down decision by the party but arose from broader concerns voiced by several party leaders. As the party at the helm,…
In a historic turn of events, His Majesty the King has given his royal endorsement to the Marriage Equality Bill, propelling Thailand into the annals of history as the third Asian country to recognize same-sex marriage, following in the footsteps of Taiwan and Nepal. Published in the Royal Gazette, the law is set to go into effect 120 days from its announcement on Tuesday, paving the way for same-sex couples to legally register their marriages starting January 22, 2025. “This law is a monumental step towards equal rights in Thailand,” exclaimed Waaddao Anne Chumaporn, founder of Bangkok Pride, during a spirited press conference. The excitement was palpable as she revealed her ambitious plans to host a mass wedding for over a thousand LGBTQ couples in Bangkok on the very day the law takes effect. The city is already abuzz with anticipation and joyful preparations for what promises to be an…
Public Health Minister, Somsak Thepsutin, proudly brandishing a sign advocating the 30-baht healthcare scheme at an event in Bangkok on August 22nd. (Photo: Apichart Jinakul) With unwavering confidence, the Ministry of Public Health asserts that the universal healthcare program will sidestep any financial hiccups. Minister Somsak Thepsutin conveyed on Tuesday, after a crucial National Health Security Board meeting, that the government sanctioned a central budget of 5.9 billion baht for the scheme, planned for the fiscal year concluding on September 30th. In a detailed discourse, participants mulled over the eventual disbursement of the remaining funds before the fiscal year’s closure on September 30th. The board leaned toward prioritizing the settlement of service fees to providers under the universal healthcare scheme before addressing other costs. This includes funds for members who might need to seek medical care outside the purview of the National Health Security Office (NHSO). Minister Somsak elucidated that…
In a dramatic turn of events that seemed straight out of a courtroom thriller, the Central Administrative Court handed down a landmark decision involving Airports of Thailand Plc (AoT) and the upscale shopping haven, Central Village. This high-stakes battle took root back in August 2019, around the launch of this luxury complex situated tantalizingly close to Suvarnabhumi Airport. Picture the scene: grand opening preparations for Central Village were in full swing. The developers, Central Pattana Plc (CPN), had pumped a staggering 5 billion baht into the project, promising a shopper’s paradise. But just as the confetti cannons were being set up, AoT decided to play spoil-sport. They barricaded Highway 370, the main artery to the boutique bonanza, claiming ownership and the legal prerogative to control and maintain it. Talk about a plot twist! The sight was bewildering—a luxury shopping complex decked out for a grand opening, but with enormous signs…
The first 3 million needy and disabled individuals from a pool of 14.5 million will soon be receiving their much-anticipated 10,000-baht handouts under the government’s digital wallet program. That highly-awaited day is set for Wednesday, as detailed by Deputy Finance Minister Julapun Amornvivat. This initial distribution is constrained by the limitations of the PromptPay payment system, which can only service 3 million eligible recipients at the outset. Funds are scheduled to land in recipients’ bank accounts precisely at midnight, just in time for Prime Minister Paetongtarn Shinawatra to ceremonially kick off the initiative at 9 am Wednesday. Mr. Julapun indicated that the registered recipients could easily check their disbursement statuses via the Rath Jai application. This cutting-edge app was specifically developed by the Comptroller General’s Department to aid recipients of state welfare benefits. An interesting observation from the minister revealed about 10 million overlaps between those holding state welfare cards…
Sustainability cannot blossom amidst the chaos of conflict, discrimination, and division, stated Foreign Minister Maris Sangiampongsa at the UN Summit of the Future in New York. His words echoed through the halls as a clarion call for unity and progress. (Photo: Ministry of Foreign Affairs) Thailand has unfurled a banner of commitment towards reforming the United Nations Security Council, endorsing the Global Digital Compact, and spotlighting the pivotal role of youth in molding a sustainable future for humanity, says Foreign Minister Maris Sangiampongsa. During his address on Monday at the UN Summit, his fervent delivery underscored Thailand’s passion for a better tomorrow. In what promises to be yet another landmark speech, Maris is slated to represent Prime Minister Paetongtarn Shinawatra and deliver Thailand’s address to the UN General Assembly later this week. “Sustainability cannot be realized amid conflict, discrimination, and division,” Maris declared in his presentation titled “Multilateral Solutions for…