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The Latest Breaking News from Finance Ministry

Govt plans B820bn in new borrowing in 2023 fiscal year

The cabinet on Tuesday approved new borrowing of about 820 billion baht in the 2023 fiscal year starting Oct 1 to help finance a budget deficit, the Finance Ministry said.

Bangkok Post

New VAT mulled that targets luxury goods

The Finance Ministry is considering the introduction of a two-tier value-added tax (VAT) rate that could generate additional revenue of more than 100 billion baht, says a ministry source who requested anonymity.

Bangkok Post

Keeping the scammers at bay

Authorities and regulators are stepping up efforts to prevent financial fraud, especially online scams, with measures ranging from plugging legal loopholes to the use of advanced technology.

Bangkok Post

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Weak baht takes centre stage

The Finance Ministry will hold talks with the Bank of Thailand to discuss and delve into the factors behind the weakening baht, said Finance Minister Arkhom Termpittayapaisith.

Bangkok Post

Officials pile pressure on Bank of Thailand to shield baht

The Bank of Thailand (BoT) and the Finance Ministry will soon meet to discuss the baht after it tumbled to the lowest in nearly 16 years, signalling growing concerns among officials that the currency slump can threaten a tepid recovery and stoke inflation.

Bangkok Post

Acting PM Prawit asks Finance Ministry to monitor weak baht

Acting Prime Minister Prawit Wongsuwan has asked the Finance Ministry to closely monitor the weak baht and its volatility and seek broad opinion to determine policies, a government official said on Tuesday.

Bangkok Post

Arkhom calls for study of loopholes related to forex

Finance Minister Arkhom Termpittayapaisith has asked the Securities and Exchange Commission (SEC) and the Bank of Thailand to examine any legal loopholes to prevent recurring cases of foreign exchange Ponzi schemes.

Bangkok Post

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Lower Kharif sowing calls for deft management of foodgrain stock, prices: Finance Ministry report

There is no “room for complacency on the inflation front as lower crop-sowing for the Kharif season calls for deft management of stocks of agricultural commodities and market prices without unduly jeopardising farm exports”, the report said

The Hindu

Revenue expected to exceed 2022 target

Fiscal 2022 will be the first year since the pandemic broke out for government revenue collection to exceed its target, says Krisada Chinavicharana, permanent secretary of the Finance Ministry.

Bangkok Post

Morning Digest | India raises Sri Lankan Tamil issue in U.N.; Measures to cool food inflation will deliver in coming weeks, says Finance Ministry, and more

A select list of stories to read before you start your day

The Hindu

Measures to cool food inflation will deliver in coming weeks, says Finance Ministry

Core inflation below 6% for 4th successive month, says Finance Ministry

The Hindu

THAI angles for a return to global glory

Troubled national carrier Thai Airways International (THAI) is aiming to make a comeback and reach a top 10 global ranking for airlines.

Bangkok Post

Finance Ministry gets all clear to guarantee B85bn Egat loan

The Finance Ministry has been given the green light to guarantee a loan worth 85 billion baht which the Electricity Generating Authority of Thailand (Egat) will use to cushion the effect of a higher fuel tariff (Ft) driving up household electricity bills.

Bangkok Post

Finance ministry details tax on city farm land

The criteria of the land and building tax regarding farm land must be applied to all farm land on an equal and indiscriminate basis, according to a Finance Ministry source.

Bangkok Post

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Bangkok Post

Bruised THAI aims for the skies again

Thai Airways International Plc (THAI) is aiming to resume its position as one of the world's top ten airlines after the completion of its rehabilitation process, the national flag carrier's executives said.

Bangkok Post

Cabinet okays oil fund guarantee

The cabinet on Tuesday approved a draft executive decree to allow the Finance Ministry to guarantee the loan repayment and borrowings worth up to 150 billion baht of the Oil Fuel Fund Office.

Bangkok Post

Government moves to tame fuel crisis

The government will roll out a set of measures to ease the economic impact of the global fuel crisis caused by the Russia-Ukraine war, said Krisada Chinavicharana, permanent secretary of the Finance Ministry.

The Hindu

A timely gesture: On the releases of tax devolution dues to States

Transferring more tax devolutions to States early in the year is a prudent move

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The Hindu

To boost spending, Centre releases ₹1.16 lakh crore to States

Two months’ tax dues remitted in one go to ease States’ fiscal constraints after GST compensation sunset

The Hindu

Parliamentary proceedings | Value of fake notes in banking system recorded over 80% decline from 2016-17 to 2021-22: Pankaj Choudhary

Minister of State in Finance Ministry attributes the gain to demonetisation in 2016

The Hindu

Parliament proceedings | ED attached ₹47,099 crore assets in 515 bank fraud cases since 2014: Finance Ministry

Out of the 515 cases, 137 cases pertain to bank frauds where the amount involved is more than ₹100 crore in each case

The Hindu

Delay in disbursing national fellowships hits disabled, SC, OBC Ph.D. scholars

Officials say the fellowships funded by Social Justice Ministry haven’t been disbursed since April due to change in fund flow rules by Finance Ministry

Asharq Al-Awsat

$2Bln in Auction of UAE Treasury Bonds

The United Arab Emirates, represented by the Ministry of Finance as the issuer, in collaboration with the Central Bank of the UAE (CBUAE) as the issuing and paying agent, announced Monday the results of the third auction of the Treasury Bonds program (T-Bonds). This program is part of the AED9…

Dynamite News

Business: GST collection in July surges 28 per cent to Rs 1.49 L cr

During July this year, revenue from import of goods was 48% higher while revenue from domestic transactions (including import of services) was 22 per cent higher than the revenues from these sources during the same month last year. Full story on Dynamite News:

Bangkok Post

Finance Ministry keeps 2022 growth outlook at 3.5%, sees 4% in 2023

The Finance Ministry on Tuesday said it sees economic growth of 4% next year, and maintained its 2022 growth forecast at 3.5%, underpinned by increased domestic consumption, tourism and exports, despite higher inflation.

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