The value of Thai exports dipped for an 8th consecutive month in May, falling by 4.6% to US$24.3b, contributing to an overall decline of 5.1% to $116b in 5M23.
The Admin Court yesterday ruled that PM Prayut and the National Environmental Board (NEB) had neglected their duties in tackling toxic air pollutants in the province, in a case brought forth by a local resident.
Prime Minister Prayut quits politics, resigns membership of the United Thai Nation Party (UTN), will remain as caretaker Prime Minister.
Transport urges continued subsidies: Fuel tax cuts due to expire this year. Bus and airline operators are urging the government to continue to subsidise fuel costs for the whole year to relieve the burden on companies and passengers as the tourism industry slowly recovers to match 2019 levels. Bangkok Post
Social Security Fund dips by B17.6bn: In 2022, the Social Security Fund (SSF) declined by more than 17.6 billion baht, the first drop in five years, as a result of decreased market capitalisation (mark to market) and reduced contributions to alleviate the financial burden of subscribers during the pandemic, says a Finance Ministry source who requested anonymity. Bangkok Post
Hire-purchase lenders call for rate hike: The Thai Hire-Purchase Association (THPA) has asked the Office of the Consumer Protection Board (OCPB) to increase the maximum interest rate for hirepurchase loans as the business is being affected by rising rates. Bangkok Post
BoI applications catapult by 70% to B364bn in first half: Applications for investment promotion in the first half of this year soared by 70% year-on-year to 364 billion baht in value, led by foreign direct investment skyrocketing 141% as global companies continue to choose Thailand as a manufacturing base, says the Board of Investment (BoI). Bangkok Post
Pita fails to secure support: MFP leader vows to gather more backers. Move Forward Party (MFP) leader Pita Limjaroenrat yesterday failed to gather enough support in parliament in his nomination to become the country’s 30th prime minister. Bangkok Post
Delay poses risks to the economy: Chamber warns of impact to tourism. The University of the Thai Chamber of Commerce (UTCC) expects a prolonged delay in the selection of a prime minister and formation of a new government, leading to protests that, if violent, will significantly affect tourism revenue, causing a loss of 500 billion baht, or a one percentage point decline in GDP. Bangkok Post
Consumers upbeat for 13th month: Tourists go horseback riding in Hua Hin. Mr Thanavath says the rising consumer sentiment reflects a clear recovery in the tourism sector and improved economic activities in various regions. Consumer confidence rose for a 13th straight month in June and posted the highest level in 40 months since March 2020, driven by a resilient tourism sector and increasing agricultural product prices. Bangkok Post