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The Latest Breaking News from Finance Ministry

Government nudged to correct revenue-to-GDP proportion

The government is advised to seek methods to increase its revenue-to-GDP ratio following a continuous decline, while remaining prudent in incurring higher levels of debt, says a Finance Ministry source who requested anonymity.

Bangkok Post

Israel Poised To Release World’s First Digital Government Bond

The Tel Aviv Stock Exchange (TASE) and Israel’s Finance Ministry prepare for a digital Israel Bond traded on blockchain platform.

Zenger

Tobacco: Farmers' body writes to PMO, Finance Ministry against WHO recommendation

Farmer organisation FAIFA has written to the Prime Minister’s Office (PMO) and Finance Ministry against the WHO recommendation that alternative crops should replace tobacco as it contributes to global food crisis

The Hindu

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Israel passes budget with big grants to ultra-Orthodox

Israel’s parliament passed a national two-year budget that includes billions of dollars in funding for West Bank settlements and religious programs, stabilizing Prime Minister Benjamin Netanyahu’s right-wing coalition. The shekel weakened as critics warned the plan would suppress rather than spur economic growth.

Tribune News Service

Bureau ready to adjust fiscal 2024 budget plan

The Budget Bureau is planning to adjust the fiscal 2024 budget to reflect the priorities of the new government, says a Finance Ministry source who requested anonymity.

Bangkok Post

Ministry estimates B2tn available for party pledges

The new government will have room to spend at least 2 trillion baht to fulfil its populist campaign pledges, according to a Finance Ministry source who requested anonymity.

Bangkok Post

Ministry sets targets for tax reform

The Finance Ministry has set four targets for tax reform, aiming to boost revenue to cover expenses and deal with future economic uncertainties, says Fiscal Policy Office director-general Pornchai Thiraveja.

Bangkok Post

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Arkhom predicts potential growth of 4-5%

The potential growth rate of the economy is 4-5%, says Finance Minister Arkhom Termpittayapaisith.

Bangkok Post

Megaprojects, tourism to propel growth, Arkhom says

A slew of billion-dollar infrastructure projects and an upswing in tourism will fuel Thailand’s expansion this year, shielding the economy from weaker exports and any possible delay in the budget approval due to elections, according to Finance Minister Arkhom Termpittayapaisith.

Bangkok Post

Colombia's health bill to cost up to $2.64 billion annually for next decade

The Colombian government's health reform plan will cost from $1.86 billion to $2.64 billion each year for the next decade, the Finance Ministry said on Monday.

Reuters

Brazil govt to resume fuel taxes -ministry

The Brazilian government is set to resume the collection of federal taxes on fuels this week, the Finance Ministry said on Monday.

Reuters

G-20 finance chiefs to tackle global economic threats

Top financial leaders from the Group of 20 leading economies are gathering in the south Indian technology hub of Bengaluru to tackle challenges to global growth and stability

The Independent UK

Ministry to probe executives' BCP shares

The Finance Ministry will investigate whether it was unethical for two of its senior executives to receive shares offered to them by SET-listed Bangchak Corporation Plc (BCP) under the company's employee stock ownership plan (Esop), said a ministry source who requested anonymity.

Bangkok Post

Bid to hasten Covid payouts

The Finance Ministry plans to speed up the payment of lump sum claims from Covid-19 policyholders of four dissolved non-life insurance companies, says permanent finance secretary Krisada Chinavicharana.

Bangkok Post

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Bangkok Post

Finance Ministry keen on balanced budget

The Finance Ministry expects a more focused reform of both revenue collection and expenditure to achieve a balanced budget in the next decade, says the ministry's permanent secretary Krisada Chinavicharana.

The Independent UK

Lebanon sets new exchange rate, dramatically devalues pound

Lebanon’s Central Bank has set a new exchange rate that effectively devalues the country’s currency by 90% but did little to bridge the gap with the soaring black market rate

Bangkok Post

Spat obstructs EV battery production

The development of measures to promote the domestic production of electric vehicle (EV) batteries remains deadlocked because of differing opinions between the Finance Ministry and the Industry Ministry, says a National EV Policy Committee source who requested anonymity.

Bangkok Post

Illicit bank accounts face legal crackdown

The Finance Ministry has instructed the Fiscal Policy Office (FPO) to find ways to tackle fraudsters' use of nominees to open bank accounts, says the ministry's permanent secretary Krisada Chinavicharana.

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Bangkok Post

Arkhom targets balanced budget with tax reforms

The Finance Ministry aims to achieve a balanced budget in a decade by improving its tax collection efficiency and expanding the tax base, says Minister Arkhom Termpittayapaisith.

Bangkok Post

Ministry to pilot utility bill data sandbox

The Finance Ministry will test in a sandbox the use of utility bill data by small and medium-sized enterprises (SMEs) to support their applications for new loans from state-owned financial institutions, said Chuenchob Kongudom, vice-minister to the Prime Minister.

Bangkok Post

Determining the future of virtual banking

The Bank of Thailand has issued a consultation paper for the virtual bank licensing framework as part of its hearings into the creation of virtual banks as new financial service providers. Below are details about virtual banks listed in the paper and frequently asked questions.

Bangkok Post

Fiscal status unfazed by continued tax discount

The Finance Ministry is confident the cabinet's decision to extend the diesel excise tax cut by another four months will not affect the country's fiscal status as net revenue collection for fiscal 2023 is expected to exceed the target, says Deputy Finance Minister Santi Promphat.

The Times of India

Realty industry wants tax and policy related relaxations in upcoming budget 2023

NEW DELHI: With a view to sustain demand in the housing sector, the realty industry wants tax and policy related relaxations in the upcoming budget.

Bangkok Post

Welfare bump on the cards

The Finance Ministry is considering increasing the value of state welfare card subsidies in response to rising living costs, says a ministry source who requested anonymity.

Bangkok Post

BoT sets out plan to issue up to 3 virtual banking licences

The Bank of Thailand plans to grant up to three virtual banking licences in the first stage of its digital plans, and will allow both financial institutions and non-financial firms to apply.

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Arkhom Termpittayapaisith

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