PM Confident in Economic Recovery

[webfact]

 

by Namo Vananupong

BANGKOK (NNT) - The COVID-19 pandemic has greatly impacted Thailand’s economy. The government, in response, implemented various policies to keep the economy afloat and stimulate recovery. This resulted in the government’s revenue collection exceeding the target by 91 billion baht in the first 4 months of fiscal 2023.

 

Meanwhile, the country’s foreign reserves are among the most robust in the world.

 

Government spokesman Anucha Burapachaisri said Prime Minister Gen. Prayut Chan-o-cha had continually executed policies to drive the Thai economy. This effort was achieved via targeted economic measures that were synergistic in nature and has resulted in the improved recovery of the Thai economy.

 

Mr. Anucha said that in the first four months of fiscal 2023, the government was able to collect 836.6 billion baht of net revenue. The figure was about 91 billion baht or 12.3% in excess of projections, reflecting the robustness of the Thai economy and the country’s fiscal stability.

 

The spokesperson said foreign reserves stood at 225 billion USD in January this year, rising from 216.6 billion USD in December 2022. He explained that foreign reserves are able to be used immediately if necessary, in cases such as compensating for payment imbalances or implementing foreign exchange rate policies that require the use of foreign reserves as a tool.

 

He added that according to the International Monetary Fund’s ranking, Thailand is among the nations with the most foreign reserves, excluding gold.

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG230222104037409

 

-- © Copyright NNT 2023-02-22

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

The most versatile and flexible rental investment and holiday home solution in Thailand - click for more information.

[SuperSilverHaze]

Eating space-cake. And what is alleged to be driving the recovery?

 

Weak economy?

Weak tourism numbers?

Feckless government?

Inflation?

World recession?

US recession?

Dearth of Chinese?

Real Estate hangover?

No investment in Education.

[userabcd]

" Mr. Anucha said that in the first four months of fiscal 2023, the government was able to collect 836.6 billion baht of net revenue. The figure was about 91 billion baht or 12.3% in excess of projections, reflecting the robustness of the Thai economy and the country’s fiscal stability. "

 

Revenue collected soon to be boosted by an easy tax on demand at all entry points and can be subject to inflation for future years.

 

[foreverlomsak]

50 minutes ago, webfact said:

This resulted in the government’s revenue collection exceeding the target by 91 billion baht in the first 4 months of fiscal 2023.

Confused.

The Thai Revenue Department, i.e. tax man (for income tax) works on the calendar year, how can they make that statement in month 2?

[vivananahuahin]

the magic wand from Harry Potter.

[jollyhangmon]

... hmmmm, a honest misunderstanding perhaps, meanwhile in other news:

 

 

 

 

[sammieuk1]

$225 billion o paper can be used immediately once the watches cars and houses have been sold ???? 

[hotchilli]

1 hour ago, webfact said:

Meanwhile, the country’s foreign reserves are among the most robust in the world.

So why the daily drivel of returning tourist numbers bolstering a fragile GDP?

[SuperSilverHaze]

1 hour ago, hotchilli said:

So why the daily drivel of returning tourist numbers bolstering a fragile GDP?

Keep aseannnow busy

[Gknrd]

I say another 10 years in power, you the man. 

[zzaa09]

5 hours ago, foreverlomsak said:

Confused.

The Thai Revenue Department, i.e. tax man (for income tax) works on the calendar year, how can they make that statement in month 2?

They're all wise and knowing. 

????

[billd766]

9 hours ago, userabcd said:

" Mr. Anucha said that in the first four months of fiscal 2023, the government was able to collect 836.6 billion baht of net revenue. The figure was about 91 billion baht or 12.3% in excess of projections, reflecting the robustness of the Thai economy and the country’s fiscal stability. "

 

Revenue collected soon to be boosted by an easy tax on demand at all entry points and can be subject to inflation for future years.

 

That may work in the short term but the more you tax visitors on entry the less visitors you get.

 

Firstly you must make the country attractive and reasonably priced to visit in the first place.

 

That means getting rid of the scams and corruption at all points. You also need a completely trustworthy police force, and justice system.

[Blumpie]

Tourism will recover, make no mistake.  That's easy - it came back from nothing.  ????  The pent up demand is nearly over for this year and the hot season is coming.  Next year will be interesting.  It won't be 40 million.  I mean it could be... but I sincerely doubt it.