Thai cabinet approves 3.2 trillion baht budget for 2020
The money required will come in part from 2.73 trillion baht in total exchequer revenues, thus incurring 469 billion baht in budget deficit.
BANGKOK, 1st August 2019 (NNT) – The Budget for fiscal 2020, amounting to 3.2 trillion baht, is scheduled for consideration by the cabinet on August 6.
Prime Minister/Defense Minister Gen Prayut Chan-o-cha has chaired a meeting on preparations for the Budget Bill at Government House.
The meeting was attended by officials of the Budget Bureau, the Bank of Thailand, the Ministry of Finance, the National Economic and the Social Development Council.
The premier remarked that the Budget Bill should be prepared in response to both internal and external factors, for which viewpoints from varied committees should be taken into account.
Budget Bureau Director Dechaphiwat na Songkhla announced that the meeting has approved the 3.2 trillion baht Budget, which will be proposed to the cabinet on August 6.
The money required will come in part from 2.73 trillion baht in total exchequer revenues, thus incurring 469 billion baht in budget deficit.
Then, the Budget Bill will be forwarded for debate in parliament from October to the middle of January 2020. Finally, it will be submitted to His Majesty the King by the end of January 2020.
Currencies
3 Reasons to Be Optimistic About the Baht Right Now
Probably one of the most important factors for the rise of the Baht is the continued weakness of the US dollar, which most experts agree is going to continue declining throughout the rest of the year.
The Thai Baht, our beleaguered currency, has had something of a difficult few years. Successful debt and inflation crises have eroded the value of the Baht numerous times, not least the events of 2015-16, which saw the Baht plunge to some of the lowest levels against the Dollar in history.
Tourism
Will Thailand’s plan for quarantine-free tourism set a global trend?
According to the Tourism Authority of Thailand, the quarantine-exemption measures implemented in Phuket will be extended to five other key tourism destinations – Krabi, Phang Nga, Surat Thani (Ko Samui), Chonburi (Pattaya) and Chiang Mai – from October 1.
As part of plans to stimulate a rebound in tourism, some countries have moved to waive compulsory quarantine for international travellers who have received a coronavirus vaccine.
Business
Thailand Approves Latest Economic Relief Package for Businesses
Some 250 billion baht (US$8 billion) was allocated for soft loans while the remaining 100 billion baht (US$3.2 billion) will go towards an ‘asset warehousing’ program whereby debtors can use their assets as loan collateral but will have the right to redeem their assets under a specific time frame.
On March 23, 2021, Thailand’s government approved its latest economic relief package, valued at 350 billion baht (US$11.2 billion), to support businesses in the country.
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Probably one of the most important factors for the rise of the Baht is the continued weakness of the US...
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