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The Latest Breaking News from Fiscal Policy

Thai growth slashed based on weak exports

The Fiscal Policy Office (FPO) has downgraded its forecast for Thai economic growth this year to 3.6% from 3.8%, mostly based on expectations of an export contraction.

Bangkok Post

Michael Pascoe: The fallacy at the heart of the Reserve Bank of Australia review

Instead of tackling the fallacy and lie, the review came up with this: 'There should be increased joint work between Treasury and the RBA'.

The New Daily

IMF Sees Global Growth Below 3% in 2023

The International Monetary Fund expects global economic growth to dip below 3% in 2023 and to remain around 3% for the next five years, IMF Managing Director Kristalina Georgieva said in prepared remarks on Thursday. That is the global lender's lowest medium-term growth forecast since 1990, and well below the…

Asharq Al-Awsat

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New tax reduction for land and buildings comes into effect

A 15% reduction in the land and building tax has taken effect, says Fiscal Policy Office (FPO) director-general Pornchai Thiraveja.

Bangkok Post

State eager to avoid fiscal fiasco

The government set an ambitious goal to achieve a balanced budget in 10 years, even though several obstacles still remain.

Bangkok Post

Thai consumption keeps increasing amid recovery

Private consumption improved in January, according to the Fiscal Policy Office's director-general Pornchai Thiraveja.

Bangkok Post

SNP calls for 20% cut to energy bills

UK government says it would be irresponsible to plan fiscal policy on current ‘volatile prices’.

The Independent UK

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COVID Stimulus Spending Played 'Sizable Role' in Inflation

Fiscal stimulus during the pandemic contributed to an increase in inflation of about 2.6 percentage points.

Reason

Illicit bank accounts face legal crackdown

The Finance Ministry has instructed the Fiscal Policy Office (FPO) to find ways to tackle fraudsters' use of nominees to open bank accounts, says the ministry's permanent secretary Krisada Chinavicharana.

Bangkok Post

FPO maintains Thai GDP growth forecast

The Fiscal Policy Office (FPO) has maintained its Thai economic growth forecast this year at 3.8%, in line with the continued rebound of the tourism sector and declining inflation.

Bangkok Post

Michael Hiltzik: The US economy is again being held hostage to our ridiculous federal debt ceiling

The individuals in charge of U.S. fiscal policy are often thought to be among the most sober people in the world, so you may be wondering why we're suddenly hearing ideas such as the minting of a trillion-dollar platinum coin or selling $100 face-value Treasury bonds for $200.

Los Angeles Times

Cutting Government Back to Last Year's Size Shouldn't Be 'Impossible' or 'Severe'

Taking stock of the utterly unserious fiscal policy discourse in Washington.

Reason

Fiscal policy plans endorsed by cabinet

The cabinet yesterday approved the medium-term fiscal policy for fiscal 2024-2027, with the aim of achieving a significant reduction in the budget deficit in 2024 to ensure fiscal stability.

Bangkok Post

Next year's fiscal outlook - Roll Call

Lawmakers finally cleared an omnibus spending package three months late, but a divided Congress next year is sure to make fiscal policy even more contentious. CQ Roll Call’s David Lerman, Lindsey McPherson, Aidan Quigley, Laura Weiss and Paul M. Krawzak assess how the two parties fared in the omnibus deal…

Roll Call

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Bangkok Post

FPO describes country's economy as being 'in good shape'

The Thai economy has stabilised, with inflationary pressures subsiding and public debt still below 70% of the country's GDP, according to the Fiscal Policy Office (FPO).

Bangkok Post

Talks aimed at quashing Ponzi fraud

The Department of Special Investigation (DSI) and the Finance Ministry have discussed methods to strengthen their efforts to prevent Ponzi schemes, says Fiscal Policy Office director-general Pornchai Thiraveja.

Tribune News Service

Conor Sen: Republicans can’t stop a new wave of government spending

The outcome of the midterm elections has left lingering uncertainty in Washington, including the question of what fiscal policy might look like in the new Congress. But even if Republicans regain control of the House of Representatives and/or the Senate, the landscape as we close out 2022 is completely different…

Reuters

Lula's honeymoon with Brazil markets ends amid spending plan fears

Brazilian President-elect Luiz Inacio Lula da Silva's brief honeymoon with financial markets looked finished on Thursday, as he pushed for more room to grow social spending without setting long-term fiscal rules or naming his top economic policymakers.

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Bangkok Post

State revenue exceeds goal by B130bn

The government's net revenue in fiscal 2022 hit 2.53 trillion baht, exceeding its target by 130 billion baht, or 5.4%, said Fiscal Policy Office (FPO) director-general Pornchai Thiraveja.

The Guardian - AU

Can Labor provide cost-of-living relief without feeding inflation and interest rates? An expert panel responds

Anthony Albanese says the government can’t afford to provide energy payments or other relief because to do so would put even more pressure on the RBA to raise interest rates – is he right? Three economists have their say

Bangkok Post

Office nudges down growth forecast this year

The Fiscal Policy Office (FPO) has downgraded its 2022 Thai economic growth forecast to 3.4% from the 3.5% projection it made in July.

The Guardian - UK

Jeremy Hunt may have little choice but to usher in a new age of austerity

The Truss-Kwarteng blunders have seen off any hope that people-friendly policies will be pursued

The Guardian - UK

The trauma of the Truss era will afflict British politics for years to come

This ‘never again’ moment will inform everything from fiscal policy to public trust, says Guardian associate editor and columnist Martin Kettle

The Times of India

UK political crisis: Pound extends gain as focus turns to future UK leadership

LONDON: The pound extended gains after Liz Truss announced she was resigning as UK prime minister, capping weeks of speculation on the future of her premiership since her initial fiscal policy drove markets into turmoil.

Axios

Why the federal government should join the Fed in the inflation fight

Fiscal policy is missing in the battle against rising prices.

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