Thailand's Finance Ministry Says Fiscal Buffer Prevents French-Style Protests; Solar Roof Project to Reach Cabinet This Month

Key summary

Mr. Lavaron Saengsanit, Deputy Minister of Finance, stated that Thailand's fiscal situation differs from France due to a high fiscal buffer and strict financial discipline under the leadership of Mr. Ek-niti Nitithamphapach, Deputy Prime Minister and Minister of Finance. While foreign unrest stemmed from cuts to public welfare services, Thailand maintains current welfare spending while controlling unnecessary leaks. Global credit rating agencies have upgraded Thailand's credit rating based on this discipline. The government emphasizes avoiding new debt unless necessary for beneficial projects. A solar cell installation project on residential roofs is under review by a sub-committee and expected to be submitted to the Cabinet within this month, alongside considerations for integrating smart systems. Additionally, measures regarding import taxes on electric vehicles (EVs) are proceeding through the approval process pending final decisions by the Deputy Prime Minister and Finance Minister.