Thailand to borrow over 66 billion USD for fiscal year 2024
The Thai government plans to borrow about 2.4 trillion THB (nearly 66.65 billion USD) for the 2024 fiscal year starting October 1, up about 9% from the current year, according to market sources briefed by the Ministry of Finance.
Hanoi (VNA) - The Thai government plans to borrow about 2.4 trillion THB (nearly 66.65 billion USD) for the 2024 fiscal year starting October 1, up about 9% from the current year, according to market sources briefed by the Ministry of Finance.
More than 700 billion THB of the total will be fresh borrowing to finance the budget deficit, and about 1.7 trillion THB will be earmarked for refinancing and restructuring existing debts.
About half of the funding sought will be raised through government bond sales, while the rest will be financed via treasury bills, savings bonds, bond switches and promissory notes.
The government plans to sell up to 272 billion THB of government bonds in the last quarter of this year.
The new cabinet of Thailand approved higher budget spending of 3.48 trillion THB for fiscal year 2024, along with a larger budget deficit of 693 billion THB, to revive the economy.
According to Thai government spokesman Chai Wacharonke, the budget increase is to match the medium-term financial plan for the 2024-2027 period proposed by the Financial Institutions Policy Committee under the Bank of Thailand./.
Thailand has set a new target of earning 3 trillion THB (about 85 billion USD) from international visitors and turning the country into a sports and entertainment centre, according to Minister of Tourism and Sports Sudawan Wangsuphakijkosol.
The Thai prime minister has called for the establishment of a special committee tasked with preparing for and mitigating the effects of the El Nino weather phenomenon. The committee’s primary focus is to assess the feasibility of declaring a state of emergency in various provinces to facilitate rapid response efforts.
Thailand will implement measures to tighten tax rules on overseas income as part of efforts to reduce income inequality as well as raise revenue to pay for initiatives to stimulate its economy.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
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In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
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The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
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Efforts to empower women must transcend dialogue and translate into concrete commitments, including corporate pledges and government partnerships, according to the spouse of Malaysian Prime Minister Anwar Ibrahim.
The forum featured two in-depth discussion sessions, engaging representatives from governments, think tanks, and businesses from both ASEAN and China, on how to forge closer ties for a common future.
The new FIFA Hub in Jakarta will not only support football development in Indonesia but also serve as a coordination centre for 21 football associations across Southeast and East Asia.
Minister Counselor Nguyen Hoang Nguyen reaffirmed Vietnam’s principled and consistent stance on the Palestine issue, calling for an immediate and lasting ceasefire across the entire Gaza Strip.
PM Anwar Ibrahim affirmed the determination of Malaysia, as ASEAN Chair for 2025, to utilise all viable regional mechanisms of the bloc and work with partners to de-escalate violence and restore a peace process led by Myanmar.
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