Thailand: About 3.55 billion USD expected to be spent on election-related activities
At least 120 billion THB (3.55 billion USD) will be spent on election-related activities in Thailand, doubling the amount previously estimated, according to the Business and Economic Forecast Centre of the University of Thai Chamber of Commerce.
Thailand: About 3.55 billion USD expected to be spent on election-related activities. - Illustrative image (Photo: //www.thaipbsworld.com/)
Bangkok (VNA) - At least 120 billion THB (3.55 billion USD) will be spent on election-related activities in Thailand, doubling the amount previously estimated, according to the Business and Economic Forecast Centre of the University of Thai Chamber of Commerce.
The centre said its forecast for spending by all political parties on election-related activities is in line with the Bank of Thailand (BOT)’s information, indicating that the circulation of cash in the Thai economy during the first three months of 2023 rose by about 234 billion THB to 6.98 trillion THB, 3.47% higher than that of the same period last year.
In a breakdown of the circulation of 1,000-THB and 500-THB banknotes, the centre said that the denominations increased by 1.9% and 14.2% respectively, which is considered normal by the Thai Bankers Association for a pre-election campaign period.
The increased spending is expected to drive economic growth by 0.5% to 0.7%, it added.
According to the BoT, the number of electronic money transfers in January this year, particularly through mobile banking platforms, peaked at about over 2.18 billion, an increase of 39.6%, while the value of the transfers increased to about 8.86 billion THB a month, up 6.7% compared to last year./.
The labour market of Thailand improved in the first quarter of 2023, with 98% of the labour force employed, according to the National Statistical Office (NSO).
Thai Prime Minister Prayut Chan-o-cha and the Public Health Ministry remain concerned about a relapse of the COVID-19 pandemic, even though the World Health Organisation (WHO) recently declared an end to the public health emergency status for the pandemic worldwide on May 5, the country’s government spokesperson Anucha Burapachaisri said on May 9.
Thailand is scheduled to host a retreat of Bay of Bengal Initiative for Multi-sectoral Technical and Economic Cooperation (BIMSTEC) foreign ministers on July 17 , to reinvigorate the 25-year-old intergovernmental organisation.
The Election Commission (EC) of Thailand is expected to be able to announce preliminary results at about 10pm on May 14t, Deputy Secretary-General of the EC Suranee Pontawee, has revealed.
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Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
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Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
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Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
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Thailand: About 3.55 billion USD expected to be spent on election-related activities. - Illustrative image (Photo: //www.thaipbsworld.com/) 
