Shadow of uncertainty over budget for fiscal year 2024 as election looms

14 Sept 03:38 Key points summarised by AI

The Cabinet approved a 3.35 trillion baht budget for fiscal year 2024, projecting a 593 billion baht deficit, with current spending heavily outweighing capital expenditure.
The impending general election introduces significant uncertainty, threatening to delay the budget bill's approval and implementation if a new government takes power.
A new administration is likely to review and revise the fiscal framework to align with its policy pledges, potentially altering spending allocations for social welfare and capital projects.
Economists and experts advocate for public sector reforms, increased capital investment, and potential tax adjustments to finance growing social welfare demands and manage rising public debt sustainably.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Today 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.