1. Tourism Authority cuts FY25F foreign tourist arrivals to 35.5m from 39m prior following soft figures in the first 4 months, short-haul market considerable decline with Chinese & South Korean arrivals -30% & -14% respectively.
2. Government revenue collection remains below pre-Covid levels, while the administration is nudged to reduce high deficits.: State faces more debt-related risks. The government’s revenue collection remains below the pre-Covid period and lower than that of emerging economies, according to the Fiscal Policy Office (FPO). In its fiscal risk assessment for fiscal 2024 released last month, the FPO also noted a decline in the government’s debt repayment capacity compared with the period before the pandemic. A source from the Finance Ministry who requested anonymity said the fiscal risk in fiscal 2024 and for the medium-term outlook remains high compared with the pre-Covid period, which means several risk factors should be monitored. Bangkok Post
3. National Energy Policy Committee has approved electricity tariff of Bt3.99/kwh for Sept to Dec, Bt 0.01 higher than current Bt 3.98/kwh for May to Aug.
4. Swire Pacific has submitted filing to spin off and separately list ThaiNamthip Corp PCL on SET. TCPCL Group is principally engaged in the biz of preparing, packaging, distributing and selling non-alcoholic ready-to-drink beverages bearing trademarks owned by the Coca-Cola Co in 63 of 77 provinces in TH and Laos
5. BBLAM rpts Bt30m new subscription for Thai ESGX funds during 1st day last Fri, confident the whole industry will be able to raise >Bt20b by end of June sub period.
6. Phase 3 of handouts in doubt: PM says ‘revisions’ needed due to tariffs. The next phase of the government’s flagship money handout scheme requires some revisions as the impact of US President Donald Trump’s tariff policies on the global economy looms large, Prime Minister Paetongtarn Shinawatra said yesterday. Bangkok Post
7. TAT to rejig B3.5bn stimulus budget: Agency to rebalance allocation of funds. The Tourism Authority of Thailand (TAT) is adjusting the proposed stimulus budget of 3.5 billion baht, planning to add subsidies for chartered flights serving the Chinese market and promotional campaigns with global online travel agents (OTAs), in addition to the domestic co-payment scheme. Bangkok Post
8. Headline inflation fell in Thailand for the first time in 13 months, as energy and vegetable prices declined in April.: Inflation dipped in April for the first time in 13 months, according to the Commerce Ministry. Headline inflation dropped by 0.22% year-on-year to 100.14 on the consumer price index (CPI) in April, attributed to lower prices for energy and fresh vegetables, said Poonpong Naiyanapakorn, director-general of the Trade Policy and Strategy Office (TPSO).Bangkok Post
9. Oil prices unchanged despite fuel tax hike: Officials have managed to keep the retail prices of oil unchanged despite regulators deciding to increase the fuel excise tax by 15%, says Energy Minister Pirapan Salirathavibhaga. Bangkok Post
10. Agency cuts outlook for ad spending: Estimate reduced to 2.2% from 4.5%. Digital media agency Media Intelligence Group (MI) has revised down its growth forecast for advertising and marketing spending in Thailand this year to 2.2%, representing 87.6 billion baht in total spending, from an earlier projection of 4.5% growth, citing unfavourable economic conditions. Despite the economic slowdown, the company said there are still opportunities for brands by using a balanced mix of online and offline channels to navigate challenges. Bangkok Post

Bonus 5

1. Medical Council suspended 2 doctors on Thurs over alleged ethical violations linked to treatment given to Thaksin following his return from exile in Aug 2023. Thaksin was transferred to the hospital almost immediately from a detention centre without having to spend any time in jail.
2. Banks are expected to cut rates aft BBL lower MLR, MOR & MRR as well as time deposit rate 3-24mths effective yesterday.
3. Pushback on VAT scheme for SMEs: Leaders say timing is not right. Even though Finance Minister Pichai Chunhavajira has decided not to impose the value-added tax (VAT) on businesses earning less than 1.8 million baht annually to increase state revenue and reduce the budget deficit, the business community and especially small and medium-sized enterprises (SMEs) are concerned that any expansion of VAT would exacerbate their struggles. Bangkok Post
4. The Finance Ministry plans to consider exports, tourism and agricultural development in new stimulus schemes.: Focus is on exports, tourism and farming. The government s reviewing economic stimulus plans to address US tariffs and Moody’s recent downgrade of Thailand’s economic outlook. The new economic stimulus measures currently under review cover exports, tourism, tax base expansion and agricultural development, as well as soft loans to mitigate the impacts of a stagnant economy, says Finance Minister Pichai Chunhavajira. Bangkok Post
5. FTI sounds alarm on levy proposal: The Federation of Thai Industries (FTI) has warned the government that its controversial idea to impose value-added tax (VAT) on businesses earning less than 1.8 million baht a year could lead to more struggles at a time of economic uncertainties. Bangkok Post