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The Latest Breaking News from Pornchai Thiraveja

Backup plan in works in case budget is delayed

The Ministry of Finance is preparing a backup plan to sustain the economy if delays in forming a new government affect budget disbursement for the 2024 fiscal year starting on Oct 1.

FPO requests debt restructuring

FPO requests debt restructuring

The Fiscal Policy Office (FPO) is calling on state financial institutions and commercial banks to implement debt restructuring measures to reduce the debt repayment burden rather than extending the repayment period, says director-general Pornchai Thiraveja.

Government outperforms revenue goals

Government outperforms revenue goals

Government revenue for the first eight months of fiscal 2023 exceeded its target by 122 billion baht as a result of economic recovery and active imports, says Fiscal Policy Office director-general Pornchai Thiraveja.

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Government revenue beats target amid growth

The Finance Ministry reported government revenue collection for the first seven months of fiscal 2023 (October to April) exceeded the target by 112 billion baht, mainly contributed by agencies other than the Revenue Department, says Pornchai Thiraveja, director-general of the Fiscal Policy Office.

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.

Targeted approach utilised for aid

The Finance Ministry has continued to maintain its targeted fiscal policy, including the provision of financial aid directly to specific groups, helping the country save on budget spending, says Fiscal Policy Office (FPO) director-general Pornchai Thiraveja.

Thai growth slashed based on weak exports

The Fiscal Policy Office (FPO) has downgraded its forecast for Thai economic growth this year to 3.6% from 3.8%, mostly based on expectations of an export contraction.

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Finance Ministry trims growth forecast

Finance Ministry trims growth forecast

The Finance Ministry has lowered its 2023 economic growth outlook to 3.6% from 3.8% projected earlier, on expectations of a fall in exports as global demand weakens.

New tax reduction for land and buildings comes into effect

New tax reduction for land and buildings comes into effect

A 15% reduction in the land and building tax has taken effect, says Fiscal Policy Office (FPO) director-general Pornchai Thiraveja.

Arkhom says SVB's failure unlikely to affect country

Arkhom says SVB's failure unlikely to affect country

The Finance Ministry is closely monitoring the collapse of Silicon Valley Bank (SVB) to see if it has any impact on Thailand, says Finance Minister Arkhom Termpittayapaisith.

Thai consumption keeps increasing amid recovery

Thai consumption keeps increasing amid recovery

Private consumption improved in January, according to the Fiscal Policy Office's director-general Pornchai Thiraveja.

FPO maintains Thai GDP growth forecast

FPO maintains Thai GDP growth forecast

The Fiscal Policy Office (FPO) has maintained its Thai economic growth forecast this year at 3.8%, in line with the continued rebound of the tourism sector and declining inflation.

Finance Ministry maintains growth outlook, expects more tourists

Finance Ministry maintains growth outlook, expects more tourists

The Ministry of Finance has maintained its economic growth outlook for 2023 at 3.8%, buoyed by a rebound in tourism and domestic demand, but an official said exports would slow down this year.

Infrastructure outlays to underpin growth

Infrastructure outlays to underpin growth

The government aims to accelerate state investment this year to provide a tailwind to propel economic growth momentum.

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FPO describes country's economy as being 'in good shape'

The Thai economy has stabilised, with inflationary pressures subsiding and public debt still below 70% of the country's GDP, according to the Fiscal Policy Office (FPO).

Talks aimed at quashing Ponzi fraud

The Department of Special Investigation (DSI) and the Finance Ministry have discussed methods to strengthen their efforts to prevent Ponzi schemes, says Fiscal Policy Office director-general Pornchai Thiraveja.

State revenue exceeds goal by B130bn

The government's net revenue in fiscal 2022 hit 2.53 trillion baht, exceeding its target by 130 billion baht, or 5.4%, said Fiscal Policy Office (FPO) director-general Pornchai Thiraveja.

Office nudges down growth forecast this year

The Fiscal Policy Office (FPO) has downgraded its 2022 Thai economic growth forecast to 3.4% from the 3.5% projection it made in July.

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Ministry eyes steps to spur spending

The Finance Ministry is considering new measures to encourage spending in a bid to maintain the Thai economic recovery, according to Pornchai Thiraveja, director-general of the Fiscal Policy Office (FPO).

Thailand urges unity on fiscal, tax policy to fight looming stagflation

Thailand has urged the adoption of international cooperation on fiscal policy and tax measures to help safeguard small-sized businesses and low-income people from looming stagflation.

State revenue collection beats target

The government's revenue collection during the first 11 months of fiscal 2022 surpassed its target by 117 billion baht, according to the Fiscal Policy Office.

Govt relief schemes 'inject B5.73bn'

Over 20 million people have taken part in the latest instalments of the government's financial relief programmes in the first three days of September, says Pornchai Thiraveja, director-general of the Fiscal Policy Office.

Latest co-payment phase gains positive response

Phase 5 of the co-payment scheme, which opened for the first day of registration on Friday, saw an overwhelming response from the public, said Pornchai Thiraveja, director-general of the Fiscal Policy Office.

Mixed feelings on recovery outlook

Bustling commuters, traffic gridlocks and crowded shopping malls have become more common in the third quarter following the country's reopening in June, fuelling hopes that Thailand is now getting back on its feet.

FPO maintains 2022 growth forecast at 3.5%

The Fiscal Policy Office (FPO) has kept its forecast for economic growth this year at an average of 3.5%, underpinned by a recovery in both the tourism sector and domestic consumption, according to the office's director-general Pornchai Thiraveja.

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People

Arkhom Termpittayapaisith

Kriengkrai Thiennukul

Marisa Sukosol Nunbhakdi

Pornchai Thiraveja

Krisada Chinavicharana

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Organisations

US Federal Reserve

International Monetary Fund

Silicon Valley Bank

Finance Ministry

Monetary Policy Committee

the Bank of Thailand

Revenue Department

The Finance Ministry

Ministry of Finance

excise department

The Revenue Department

Department of Special Investigation

The Ministry of Finance

Fiscal Policy Office

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