Rising borrowing costs pose new challenge for Anutin

23 Sept 05:16 Key points summarised by AI

Rising borrowing costs, driven by surging bond yields, significantly complicate the Thai government's efforts to manage a large budget deficit and provide economic relief amidst high oil prices and an economic slowdown.
The Anutin administration continues to run substantial fiscal deficits, pushing public debt close to 70% of GDP, with a projected 788 billion baht deficit for fiscal year 2027.
The oil crisis, exacerbated by the US-Israel war on Iran, has fueled fears of stagflation, causing Thai benchmark 10-year bond yields to jump and prompting foreign investors to dump Thai government bonds.
Despite other Asian nations intervening in their bond markets to cap rising yields, the Thai Bond Market Association suggests Thailand's yields are relatively stable and immediate market intervention may not be necessary.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 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.