"finance ministry"

The Finance Ministry has refuted recent allegations that Malaysia is on the verge of bankruptcy and highlighted that the government has always been “highly disciplined” in managing its debt levels.

The Finance Ministry has told the Bank of Thailand (BOT) to closely monitor the weakening baht, as a continuous slide could trigger outflow of capital.

Additional measures to relieve the cost of living would be proposed to the Cabinet next Tuesday (June 21), Energy Minister Supattanapong Punmeechaow said on Tuesday.

The Thai economy will not recover quickly even though exports are likely to expand, Finance Minister Arkhom Termpittayapaisith said on Wednesday.

The Finance Ministry may extend the reduction of diesel excise tax when the tax cut period expires on May 20 but the new reduction rate may be just Bt1.5, not Bt3, a ministry source said Monday.

The Finance Ministry ordered five government banks to assist debtors with non-performing loans (NPLs) so they can repay their debts on time.

Finance Minister Arkhom Termpittayapaisith said on Monday that the ministry will end three decades of waiver and start collecting financial transaction tax on sales of stocks.

The government lost 35 billion baht in revenue after giving a 90-per-cent discount on land and building taxes in 2020 and 2021 as a reprieve to people struggling under the fallout of the Covid-19 crisis.

The Public Debt Management Office (PDMO) reported on Friday that as of February 28, the country’s outstanding public debt stood at THB9.8 trillion, or 60.17 per cent of gross domestic product (GDP).

The Finance Ministry is waiting for the Energy Ministry to calculate how much budget is needed to relieve burdens from the rising price of cooking gas and benzene.

The Finance and Energy ministries will next week discuss with car manufacturers the new automotive tax structure that will focus on electric vehicle (EV) promotions, Finance Minister Arkhom Termpittayapaisith said on Tuesday.

Tuesday’s reduction in diesel excise tax will cost the government around Bt17 billion in lost revenue, according to Finance Minister Arkhom Termpittayapaisith.