PM denies Arkhom buzz : Pick for finance minister goes to HM. Prime Minister Prayut Chan-o-cha yesterday dismissed speculation that former transport minister Arkhom Termpittayapaisith would be made the new finance minister. Bangkok Post
Arkhom secures finance post : His Majesty the King has endorsed the appointment of Arkhom Termpittayapaisith as the new finance minister, ending the month-long vacancy left by the sudden resignation of his brief predecessor, Predee Daochai. Bangkok Post
Public debt seen hitting 57% of GDP : Key finance official says budget deficit is expected to average 2.8-2.9% into 2025. The ratio of public debt to GDP in the next five years should not exceed the 60% ceiling even if taking into account the 1-trillion-baht loan decree, though the estimate excludes the probability of additional loans, says a senior finance official. Bangkok Post
Cabinet nod for PAO elections in December : The cabinet yesterday approved the holding of provincial administrative organisation (PAO) elections in December, as proposed by the Election Commission (EC), Prime Minister Prayut Chan-o-cha said. Bangkok Post
Living on borrowed time : With debt relief measures due to end this month, the pressure on struggling companies couldn’t be higher. Fears of a debt tsunami are amplifying with debt relief measures by the Bank of Thailand set to expire later this month. Suffering businesses are urging an extension to avoid shouldering a mountain of debt that could make them go under. Bangkok Post
‘Reopen now or face collapse’: Hurry up or it will be too late, govt warned. Pailin Chuchottaworn, head of a panel steering the economic recovery, yesterday urged the government to reopen the country in order to prevent it from collapsing. Bangkok Post
Defence chief denies coup is a possibility: Newly appointed defence forces chief Gen Chalermpol Srisawasdi yesterday insisted that the military would not get involved in politics and a military coup was not on their minds. Bangkok Post
Shippers predict 8% export plunge : Year-end results look better than before. A shippers group forecasts Thai exports to fall by 8% this year, slightly better than the 10% contraction predicted in July, due to a gradual recovery in global demand. Bangkok Post
Ministry of Finance is expected to propose new round of tax break shopping scheme “Shop Chuay Chart” and cash hand out “Taste-Shop-Spend” to cabinet tomorrow.
Director-General of Department of Medical Services is backing the proposal to reopen, preventing Covid forever is unrealistic.