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TV dramas and series are key creative industry products the Thai government plans to support based on their potential to enhance the country's economic development. A subcommittee was established for dramas and series under the National Soft Power Development Committee in 2023. The panel is tasked with collecting data to create policies, plans and guidelines to promote, develop and address challenges for dramas and series. However, as traditional TV viewership declines, TV stations rerun old dramas or shortened episodes, airing for 1 to 1.5 hours per episode instead of the original two hours during a prime-time slot. Industry disruption Thai dramas are being disrupted by various factors, said Yossinee Nanakorn, founder and head of content providers at Maker-Y Co Ltd, a Thai production company. In 2013, the auction for terrestrial TV licences expanded the number of channels from 6 to 20. "More channels led to more drama production, to the point where supply exceeded viewer demand," she said. TV ad revenue also declined as advertisers shifted their budgets to online platforms. Ad spending on Thai TV in the first seven months of this year totalled 33 billion baht, down by 2% year-on-year, while ad spending on the internet increased to 18 billion baht, up 8% year-on-year, according to analytics firm Nielsen Thailand. Runchita Srivoravilai, Thailand vertical lead for advertisers and agencies at Nielsen Thailand, said while TV retains the largest share of ad spending at 50%, the level has dipped from 65% a decade ago. The decline in ad revenue has prompted TV stations to tighten their approval processes for drama production, or reduce budgets per project. Moreover, the proliferation of streaming services in Thailand has increased viewers' access to a wide variety of content, offering them more choices than dramas. With a greater choice of platforms, Ms Yossinee said Thai dramas and series are striving to find a balance with how much local content can be sustained amid shrinking budgets and resources. Changing with the times She said Thai drama production companies have started to transform all aspects of their filmmaking, from pre-production and filming techniques to post-production, aiming to be on par with global standards. "If the industry demands better skills, we have to do it," said Ms Yossinee. For example, producers have learned to use new camera techniques, new lenses, and new imaging techniques, she said. In terms of plots for streaming audiences, the content needs to align with current social values, said Ms Yossinee. The script must be modern, regardless of whether the story's setting is in the present or a period piece, she said. For instance, a traditional heroine may forgive a hero's faults repeatedly. For contemporary audiences, the heroine may choose to move on with a new lover, said Ms Yossinee. Another change is budget constraints may force a production company to hire more freelancers to match the budget. "We believe Thai crews have a lot of potential, but there is still little working capital in the industry," she said. Drama and series production companies have started to create a more systematic work process, such as clear positions on set, defined working hours, and appropriate income and welfare for crews, according to Ms Yossinee. "For the producer, this may seem like a hassle, but it can create a conducive working environment for people in the industry," she said. Production companies must craft wonderful scripts and create efficient workflow to ensure top-quality content, regardless of budget and time frame, said Ms Yossinee. Opportunities abound She said she views streaming platforms as an opportunity for Thai drama producers. As platforms mushroom, producers should take the opportunity to produce high-quality local content that can be broadcast on both TV and streaming platforms, said Ms Yossinee. Despite industry challenges, she said some types of content have significant growth potential overseas, including the LGBTQ segment, notably boys' love and girls' love series. Theerapat Charoensuk, a member of the executive committee at the Publishers and Booksellers Association of Thailand (Pubat), said there is plenty of growth potential for Thai LGBTQ-related content in foreign markets, such as Vietnam, the Philippines, South America and Italy. Chalermchatri Yukol, chairman of the national soft power development subcommittee for TV and film, said he believes Thai dramas and series have high-quality content. Thai TV production companies have sold content at international festivals for years, he said. "We believe our drama content has the potential to tap into markets such as Indonesia, the Philippines and South America, which have similar viewing behaviours," said Mr Chalermchatri. However, Thai TV dramas have not been able to consistently penetrate foreign markets, he said. The subcommittee has a plan to buy content from Thai production companies and air it abroad to gain international recognition, hoping to attract an audience. This idea is in the planning stages as there is currently no budget for it, said Mr Chalermchatri. State support To propel the industry and overcome budget constraints, Ms Yossinee proposed the government offer subsidies to production companies to produce dramas. She urged the government to consider reducing personal income tax for crews on dramas and series, in line with a proposal by the subcommittee for TV and film. Moreover, the government should support upgrading crew skills to be on par with global standards, said Ms Yossinee. For example, more Thai TV dramas are starting to apply colour grading techniques than in earlier years, she said. This demonstrates drama producers are constantly trying to raise the bar for quality content, said Ms Yossinee. Dramas also need viewers who watch, appreciate and offer criticism because feedback will allow producers to develop more content quality and quantity in the future, she said. Improved content can develop the industry and drive economic growth through job creation, tourism and investment, said Ms Yossinee.
Facebook Twitter WhatsApp SMS Email Print Copy article link Save Republican U.S. Sen.-elect Tim Sheehy this week claimed a firework-ignited grass fire set near his campaign sign west of Livingston was a politically motivated arson. The Park County Sheriff's Office, however, said it has no evidence that this was a politically motivated incident and is not investigating it as such. A Park County sheriff’s deputy on Dec. 21 notified dispatchers of a fire near Interstate 90 and West End Road. On social media, the sheriff’s office said winds that night were clocked at 50-to-60 mph and helped push the fire out to 26 acres. Image of the area west of Livingston burned by someone discharging fireworks into the grass on Dec. 21, 2024. (courtesy Park County Sheriff's Office) Authorities issued evacuations for the nearby residents and firefighters knocked the blaze down in roughly an hour and a half, according to the sheriff’s office post. The fire "definitely" started near a Sheehy campaign sign, Park County Rural Fire District Chief Dann Babcox told the Livingston Enterprise. No arrests had been made or charges filed in response to the fire as of Friday. The Park County Sheriff's Office said on Facebook on Monday it had obtained video evidence of a person shooting a firework out of a moving vehicle and igniting the dry grass before heading west on I-90. What’s open and closed on Christmas Eve and Christmas Day 2024? Is John Dutton real? Meet the powerful rancher seemingly inspiring the 'Yellowstone' legend Audit initiates 100 complaints against Montana guides, outfitters Victor student with spine disorder pursuing nursing to give back Montana State Bobcats return to FCS title game with commanding win over South Dakota Coyotes Speed limit drops to 55 mph at Bell Crossing; roundabout still in works State lottery announces the 4 winners of Montana Millionaire 1976 Montana State Bobcats: Who were these hicks? National champions and 'a people story' 'I thought he was helping me': Patient endured 9 years of chemotherapy for cancer he never had Postal Service plan's impact on Ravalli County still up for debate Bill Speltz: Could a USC backup quarterback ignite Griz football? It's surely worth a spin How to protect your communications through encryption Ukraine dairy sector still investing Live updates: No. 1 Montana State Bobcats host No. 4 South Dakota in FCS semifinals PHOTOS: Santa spotted on Main Street in Hamilton Republican U.S. Senate candidate Tim Sheehy addresses supporters early Wednesday morning at the Kimpton Armory Hotel in Bozeman. JOSEPH SCHELLER ,The Montana Standard On Tuesday Sheehy appeared near the scorched scene and issued a social media post of appreciation for the responders, which, according to the Enterprise, included neighbors to the threatened properties. He also posted a picture with two Montana Department of Transportation employees, whose facility was adjacent to the burned area, as well as a photo of a blackened building. Initial reports from the sheriff’s office did say the incident was being investigated as a criminal act but did not imply political motivations, although Sheehy appeared certain of it in a video posted to his social media. "We just visited with the Jensen family here, four beautiful young kids, it was actually their third daughter’s birthday the night that these arsonists started the fire to burn down our sign and started about a 30-acre wildfire, burned their grazing land, harmed their property and its just sad that would happen here," Sheehy said. "We can still disagree, we can still respect each other in this country. We don't have to do things like this." Sgt. Ryan Call, the fire-arson investigator for the Park County Sheriff's Office, told the Montana State News Bureau on Friday the office had not identified anyone responsible for the fire. However, given the information law enforcement is working with, he said it's not clear that this was a political act. "We can't say for 110% it was politically motivated," Call said. For example, its unclear from the video law enforcement obtained whether the person shooting the fireworks was aiming at another vehicle on the roadway, Call said. Additionally, Sheehy described no political threats or similar incidents to the fire near his campaign sign when talking to law enforcement about the Dec. 21 fire, Call said. "None of that has happened," he said. Call said he is not investigating the incident as a politically motivated attack and asked anyone who was in the area or may have more information to contact the Park County Sheriff at 406-222-2050. This story has been updated with additional comment from the Park County Sheriff's Office. Author twitter Author email
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President Joe Biden recently took a step he previously said he wouldn’t take: He pardoned his son, Hunter Biden . Hunter Biden pleaded guilty to nine tax violations in September and was convicted in a separate case on felony firearms-related charges. He could have faced decades in prison, though his upcoming sentencing was likely to be a much less severe punishment. “From the day I took office, I said I would not interfere with the Justice Department’s decision-making, and I kept my word even as I have watched my son being selectively, and unfairly, prosecuted,” Biden said in a statement about the pardon. However, he went on to say that “raw politics has infected this process, and it led to a miscarriage of justice.” “I hope Americans will understand why a father and a president would come to this decision,” Biden concluded. The White House on Monday defended the decision. "They would continue to go after his son," White House press secretary Karine Jean-Pierre told reporters on Air Force One during a trip to Angola. She added that it was not the first time a president pardoned a family member. For example, former President Bill Clinton issued a presidential pardon for his half-brother on his last day in office. And President-elect Donald Trump pardoned Charles Kushner, the father of his son-in-law Jared Kushner. While pardons are typical toward the end of a president’s term in office, Biden repeatedly pledged that he would not step in to pardon his son. Here are some examples of previous statements related to Hunter Biden’s situation from Biden and the White House:
Miss Manners: I only want some of the people in my walking group to attend my party ... this is a problemArsenal moved into second place in the Premier League table with a 1-0 win over Ipswich at the Emirates. In their final fixture of 2024, Kai Havertz scored the only goal of the game midway through the opening period. Arsenal’s victory takes them back to within six points of leaders Liverpool, having played one match more than the Reds, and a point clear of Chelsea following their Boxing Day defeat to Fulham. Ipswich, although much improved in the second half, have now lost five of their last six games, and remain just one place off the bottom of the table, three points away from safety. 🎯 — Arsenal (@Arsenal) Mikel Arteta’s men have been rocked by Bukayo Saka’s hamstring injury which could keep the England winger, who has nine goals and 13 assists this season, out of action for the next two months. Gabriel Martinelli was handed the unenviable task of filling Saka’s shoes on Arsenal’s right-hand side and the Brazilian was involved in the only goal of the evening. The Ipswich defence failed to deal with Martinelli’s cross, with the ball falling to Leandro Trossard on the opposite side of the area. Trossard fought his way to the byline before fizzing his cross into the box for Havertz to convert from a matter of yards. It was Havertz’s third goal in four matches, his 12th of the season, and no less than the hosts, who at that stage of the match had enjoyed a staggering 91.4 per cent of the possession, deserved. Heading into Friday’s fixture, Arsenal had lost only one of their last 75 Premier League games when they had opened the scoring, and their triumph here rarely looked in doubt following Havertz’s strike. Three points that take Arsenal into second 🪜 — Premier League (@premierleague) Havertz thought he had doubled Arsenal’s lead with 34 minutes gone when he converted Gabriel Jesus’ cross. But Jesus – handed his third successive start for the first time in a year – strayed into an offside position in the build-up. When referee Darren England blew for half-time, Ipswich had failed to touch the ball in Arsenal’s box, becoming just the second side to do so in the Premier League this season. Nottingham Forest were the other, away at Liverpool, before they went on to inflict Arne Slot’s sole defeat of his tenure so far. And for all of Arsenal’s possession, while they held just a one-goal advantage, Ipswich knew they were still in the game. An encouraging start to the second half for the Tractor Boys ensued, albeit without testing David Raya in the Arsenal goal. Shortly after the hour mark, Gabriel should have settled any growing Emirates nerves when he arrived unmarked to Declan Rice’s corner, but the defender headed wide of Arijanet Muric’s post when it looked easier to score. Just over an hour on the clock. — IPSWICH TOWN (@IpswichTown) Martin Odegaard then forced a fine fingertip save from Muric at his near post after a mazy run and shot from the Arsenal skipper. Rice’s stinging goal-bound volley from the following corner was blocked by Dara O’Shea as Arsenal pushed for a game-killing second. Havertz should have tapped home Trossard’s header but he fluffed his lines. And moments later, substitute Mikel Merino’s effort was diverted from danger by a diving Muric. Ipswich looked to catch Arsenal on the counter, but the match ended without them registering a single effort on Raya’s goal. Ipswich fans goaded their opponents with chants of “boring, boring Arsenal”, but it was the Gunners who enjoyed the last laugh as they saw out 2024 with a win which keeps the pressure on Liverpool.
By Elizabeth Ayoola, NerdWallet The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments. Kids are often pretty good at being consumers. If you’re a parent with a small business, you have the opportunity to show your kids firsthand what it means to be a producer. Small Business Saturday, which takes place on Nov. 30 this year, may be a great time to do just that. Small Business Saturday was established by American Express in 2010 and encourages consumers to patronize their local stores as a way to keep dollars circulating within their community. Here are three reasons you should consider getting your kids involved in Small Business Saturday, according to two mompreneurs. Ronne Brown is the owner of HERLISTIC, a plant-derived beauty and feminine care brand in Washington, D.C. She’s been participating in Small Business Saturday since she established her business in 2020. The entrepreneur gets her kids (ages 24, 18 and 12), plus her bonus daughter, 10, to help out on Small Business Saturday and beyond. Brown’s kids help with customer service, shipping and fulfillment tasks. That could include counting inventory, quality control or packaging boxes. Other times, help looks like Brown’s 12-year-old daughter keeping her up-to-date with TikTok trends and influencers in the beauty field. “I just want them to understand the price and the value of a dollar and what it actually costs to make it,” Brown says. The mompreneur also hopes her kids learn the benefits of commitment and hard work. “What I want to show them is that you have to work hard every day. And there are gonna be moments where you’re gonna be tired, you’re gonna be exhausted, and you’re not gonna want to do things, and you’re going to have to push through,” she says. Hiring your kids to do legitimate work during Small Business Saturday provides a chance for them to learn pillars needed for a strong financial foundation: earning money , saving money and investing. That said, before hiring kids, it’s critical to understand the child labor laws for your state in addition to the IRS’ rules around hiring kids. Brown says she pays all of her children, including her 24-year-old son who is on payroll. Additionally, she teaches them about investing in the stock market. “I want them to understand the importance of making money, but also investing the money that they’re making,” she says. “Because when I pay them, I always ask them, ‘so what are you gonna do to double this money?’” If you hire your minor kids, they could get a headstart on investing by putting some of their income into a custodial Roth IRA , which requires earned income to open. You could also open them a custodial brokerage account. Another perk of your kids earning income by working for you is that they may be exempt from paying federal income taxes if they earn less than the standard deduction . In 2024, that threshold is $14,600. Having your kids add helping hands, whether it be doing administrative tasks or helping customers, can ensure you keep up with a potential increase in sales. A 2024 NerdWallet holiday spending report found that 16% of 2024 holiday shoppers plan to shop on Small Business Saturday this year. Lisset Tresvant, owner of Glow Esthetics Spa in Hollywood, Florida, has been participating in Small Business Saturday since the genesis of her business in 2019. “I do tend to sell more because people are usually more inclined to purchase because of the sales, and it gives them a reason to support us,” she says. To help with the demand, Tresvant’s daughter, 12, and son, 9, fill her skincare products, add labels and help prep items for shipping. Tresvant says she decided to let her kids get involved in her business so they have a better understanding of what she does. Looking beyond Small Business Saturday, hiring your child can also help with succession planning , which is about planning for your departure from your business. Tresvant hopes to pass hers down to her kids one day. “They understand that I’m building this legacy just for not myself, but for them as well,” says Tresvant. Elizabeth Ayoola writes for NerdWallet. Email: eayoola@nerdwallet.com. The article 3 Reasons to Involve Your Kids in Small Business Saturday originally appeared on NerdWallet .Five things to know about QB Brandon Allen, the 49ers’ starter against the Packers this weekend
By MEAD GRUVER and AMY BETH HANSON, Associated Press A judge on Monday rejected a request to block a San Jose State women’s volleyball team member from playing in a conference tournament on grounds that she is transgender. Monday’s ruling by U.S. Magistrate Judge S. Kato Crews in Denver will allow the player, who has played all season, to continue competing in the Mountain West Conference women’s championship scheduled for later this week in Las Vegas. The ruling comes after a lawsuit was filed by nine current players who are suing the Mountain West Conference to challenge the league’s policies for allowing transgender players to participate. The players argued that letting her compete was a safety risk and unfair. While some media have reported those and other details, neither San Jose State nor the forfeiting teams have confirmed the school has a trans women’s volleyball player. The Associated Press is withholding the player’s name because she has not publicly commented on her gender identity. School officials also have declined an interview request with the player. Judge Crews referred to the athlete as an “alleged transgender” player in his ruling and noted that no defendant disputed that San Jose State rosters a transgender woman volleyball player. He said the players who filed the complaint could have sought relief much earlier, noting that the individual universities had acknowledged that not playing their games against San Jose State this season would result in a forfeit in league standings. He also said injunctions are meant to preserve the status quo. The conference policy regarding forfeiting for refusing to play against a team with a transgender player had been in effect since 2022 and the San Jose State player has been on the roster since 2022 – making that the status quo. The player competed at the college level three previous seasons, including two for San Jose State, drawing little attention. This season’s awareness of her identity led to an uproar among some players, pundits, parents and politicians in a political campaign year. The tournament starts Wednesday and continues Friday and Saturday. San Jose State is seeded second. The judge’s order maintains the seedings and pairings for the tournament. Several teams refused to play against San Jose State during the season, earning losses in the official standings. Boise State and Wyoming each had two forfeits while Utah State and Nevada both had one. Southern Utah, a member of the Western Athletic Conference, was first to cancel against San Jose State this year. Nevada’s players stated they “refuse to participate in any match that advances injustice against female athletes,” without providing further details. Crews served as a magistrate judge in Colorado’s U.S. District Court for more than five years before President Joe Biden appointed him to serve as a federal judge in January of this year. Gruver reported from Cheyenne, Wyoming, and Hanson from Helena, Montana.KINGSTON, R.I. (AP) — Javonte Brown had 17 points in Rhode Island's 91-53 victory against Charleston (SC) on Sunday. Brown added seven rebounds and four blocks for the Rams (5-0). Jamarques Lawrence shot 6 for 11, including 4 for 8 from beyond the arc to add 16 points. Sebastian Thomas shot 5 for 10 (3 for 6 from 3-point range) and 2 of 4 from the free-throw line to finish with 15 points. AJ Smith finished with 10 points for the Cougars (4-2). Derrin Boyd added nine points and four assists for Charleston (SC). Deywilk Tavarez also had nine points. Rhode Island took the lead with 19:31 left in the first half and did not give it up. Brown led his team in scoring with 10 points in the first half to help put them up 45-16 at the break. Rhode Island outscored Charleston (SC) by nine points over the final half, while Lawrence led the way with a team-high eight second-half points. NEXT UP Both teams next play Wednesday. Rhode Island plays Detroit Mercy and Charleston (SC)plays Northern Kentucky at home. ___ The Associated Press created this story using technology provided by and data from . The Associated PressNitish Kumar and Hemant Soren mourn Manmohan Singh’s death
After nearly three months in office, the outlook for the Paetongtarn Shinawatra government is likely to be influenced by several anticipated new stimulus proposals that are expected to be revealed in unison. The National Economic and Social Development Council (NESDC) last week forecast a Thai GDP growth rate of 2.3-3.3% in 2025, with an average of 2.8%. Despite a more promising outlook for next year, the NESDC warned that household debt is soaring, coinciding with concerns from the business sector that the government needs to improve in a number of areas to achieve the growth rate projected by the planning agency. STILL WAITING Thienprasit Chaiyapatranun, president of the Thai Hotels Association, said the government has yet to effectively stimulate economic growth as expected. He said the tourism industry next year should continue to be a major driver of GDP with 40 million foreign tourists expected to arrive, while growth in other industries may remain stagnant. Mr Thienprasit said there are gaps that could be filled to increase the number of arrivals and spending by tourists, such as promotions during the low season that include attractive programmes and campaigns. Regarding the hospitality sector, he said the government could support the market during the low season by increasing the budget available to organise governmental and public sector meetings and conferences across the country. Foreign investment should also be accelerated, including large projects such as the proposed Land Bridge and the development of comprehensive entertainment complexes that include casinos, said Mr Thienprasit. He said the government's initiative to lure technology investment to Thailand is a good idea, as data centre projects would help create jobs and business opportunities. With the government's priority the 10,000-baht handout aimed at lifting domestic consumption, Mr Thienprasit said the outcome of the scheme remains unclear when compared with investments in major infrastructure projects. He said it would be more productive and practical if the government instead worked to ease the debt burden of many Thais, as this would eventually increase people's spending power. HURDLE ON THE HORIZON Exports will continue to play a key role in driving Thailand's GDP next year, but the country needs to ensure products labelled as made in Thailand are actually produced by Thais, said Tanit Sorat, vice-chairman of the Employers' Confederation of Thai Trade and Industry (EconThai). If these goods are produced by Chinese manufacturers, this may negatively affect the export sector, he said. This could become a serious issue if Chinese companies try to avoid the higher tariffs US President-elect Donald Trump has vowed to impose on Chinese products by exporting goods to the US via Thailand, Mr Tanit said. A close examination of goods that are produced, processed and packed in Thailand both for domestic sale and export may be required to ensure the products were actually manufactured by Thai companies. "They may be made by Chinese entrepreneurs in Thailand," he said. "We don't know whether this will become an issue, which could cause the Trump administration to launch retaliatory measures against Thailand." Trump announced he would impose tariffs of 10-20% on all imported products, with tariffs of between 60-100% on goods imported from China, according to media reports. Thailand and other countries, especially those that have a trade surplus with the US, are likely to face tariffs of 10-20%, said Mr Tanit. The new US foreign trade policy will likely have a limited impact on Thai exports to the US, he said. EconThai believes exports and tourism will continue to drive the Thai economy next year. A glance at growth forecasts from various state agencies led Mr Tanit to predict a rate of 2.9% next year. "Our economy is growing, but its growth rate will be lower than those of neighbouring countries," he said, adding Southeast Asia is expected to grow by 4-5% in 2025. He applauded the new government for its stimulus efforts. "The 10,000-baht handout should help the economy somewhat as it indirectly helps some businesses to maintain their employment," said Mr Tanit. CHAMBER UPBEAT ON GROWTH Sanan Angubolkul, chairman of the Thai Chamber of Commerce, said he believes Thailand's GDP will grow by 3% in 2025, based on the NESDC forecast, as the economy gradually recovers next year. The fiscal 2025 budget was already approved, so the implementation of various policies, including government stimulus measures, will be able to proceed smoothly, he said, helping to drive the economy forward during the coming year. Thai exports were affected by baht strength earlier this year. The value of exports for the first nine months of 2024 tallied US$223 billion, up 3.9% year-on-year, indicating the export sector continues to be a key driver of the economy, said Mr Sanan. Officials expect Thailand will start to register more investments in new S-curve industries, propelling the export sector and GDP growth next year. The tourism sector is projected to fully recover in 2025 as Thailand recorded more than 30 million foreign arrivals during the first 11 months of 2024, which represents 85% of the target of 35 million arrivals set for 2025. If the government can accelerate the promotion of Thailand's soft power through various events and position the country's festivals on the global calendar, he said it will help raise awareness among foreign tourists, attracting high-income tourists to visit or live here. This would increase tourism revenue and create jobs, improving income distribution, said Mr Sanan. In terms of consumer spending, the government already started disbursal of the fiscal 2025 budget and implemented various stimulus measures. In addition, the government's recent debt relief measures should help generate liquidity in the economy, he said. Moreover, the government needs to accelerate efforts to attract foreign direct investment into Thailand by leveraging the opportunities presented by Trump's foreign trade policy, said Mr Sanan, which could restore confidence among both Thai and foreign investors. SOURCE OF INSPIRATION Chak Reungsinpinya, head of research at Maybank Securities (Thailand), said the brokerage is feeling more bullish and hopeful regarding Thailand's economic future following recent discussions with Finance Minister Pichai Chunhavajira. According to Mr Chak, the finance minister said some policies are short-term but much-needed, including the cash handout and debt restructuring schemes addressing the economic slowdown. "Mr Pichai emphasised the need to maintain fiscal discipline and expects the budget deficit to fall below 4% of GDP in the fiscal 2025 budget, keeping government debt-to-GDP below 70%, compared with 65% now," he said. Mr Pichai also said the investment budget must exceed the deficit level, meaning that current expenditure needs to be financed solely by government receipts. Over the longer term, tax reforms are needed to help close the fiscal gap, said Mr Chak. "This includes potentially lower personal and corporate income taxes, but higher value-added tax with excess government receipts going towards low-income earners via social programmes," he said. Following the initial 10,000-baht handout in October, Maybank expects Thai GDP growth to reach 3.4% in the fourth quarter of 2024, bringing full-year growth to 2.6%. The brokerage maintained its 2025 GDP projection of 2.8%, with public investment and public consumption remaining the key drivers. "We are mindful of risks to growth from rising trade barriers, especially if the US trade policy targets exporting nations that are closely integrated with China's supply chains," Maybank said in a research note, adding consumer indebtedness need to be reduced to a more manageable level for private consumption growth to recover. "The authorities are planning to implement debt restructuring programmes to address household debt, but these will take time to take effect and support consumption." Prakit Siriwattanaket, managing director of Merchant Partners Asset Management, said the government recently introduced policies to address persistent problems such as high debt levels, in addition to short-term stimulus. In his view, increased government budget disbursement is the main reason Thai GDP exceeded the market forecast of 2.7% in the third quarter this year. "The government deserves credit for increasing budget disbursement from 50 billion baht in August to 89 billion in September. This is what prior administrations wanted to do, but could not accomplish," said Mr Prakit. He said the market expects the Bank of Thailand's Monetary Policy Committee to further trim the policy rate in December to spur economic growth. UNEXPECTED DEVELOPMENT Amonthep Chawla, chief economist at CIMB Thai Bank (CIMBT), described the 3% year-on-year GDP growth in the third quarter recently as unexpectedly strong, exceeding the bank's forecast of 2.2%. According to the NESDC's latest data, public spending and domestic consumption exceeded the bank's expectations. Foreign tourist arrivals aligned with the bank's forecast and remained a key driver of Thailand's economic growth, he said. Following the NESDC's announcement of third-quarter results, CIMBT's research centre is revising its growth forecasts for 2024 and 2025. The centre is also awaiting updated economic data from the central bank. However, Mr Amonthep said the bank does not expect the country's growth rate for the fourth quarter to reach 4% year-on-year, citing the central bank's assessment that weaker purchasing power among low-income groups, particularly vulnerable and agricultural households, will weigh on economic performance. He said the second phase of the government's 10,000-baht cash handout is unlikely to significantly boost economic growth in the final quarter, as the target beneficiaries, primarily elderly individuals, are expected to spend conservatively. "Initially, we planned to revise our GDP growth forecast for this year to 2.6-2.7% from 2.3%, but the new projected figures are likely to fall just short of 3%," said Mr Amonthep. Thitima Chucherd, head of economic and financial market research at SCB EIC, said the centre plans to slightly boost its 2024 Thai growth projection to 2.6% from 2.5% following the NESDC's third-quarter report. EIC predicted third-quarter GDP growth of 2.6%, aligning with forecasts by other research houses in a range of 2.4-2.6%. The government's various stimulus initiatives, including the second phase of the cash handout programme, are expected to contribute 0.6-0.8 percentage points to growth. As a result, the country's GDP growth in the fourth quarter of 2024 could potentially reach 4% year-on-year, noted the research centre. For 2025, Ms Thitima said the Thai economy is expected to face greater challenges, particularly from potential changes in US foreign trade policies under the new administration, which could negatively impact exports in the second half of the year. As a consequence, Thailand's economic growth next year may fall below the current projection of 2.6%, noted EIC. She said EIC is awaiting further details on the implementation of stimulus packages and US economic policies before making final adjustments to its forecasts. Surrounded by leaders and members of coalition parties, Ms Paetongtarn, centre, makes a point ahead of a meeting to discuss the controversial Koh Kut border issue and referendum bill at Government House on Nov 4. Chanat Katanyu Tourists and locals make their way around Chatuchak weekend market in Bangkok. Nutthawat Wichieanbut A woman collects plastic bottles to be sold for recycling. A CIMBT economist believes the second phase of the state's cash handout is unlikely to significantly boost growth in the final quarter, as the target beneficiaries, primarily elderly individuals, are expected to spend conservatively. Apichart JinakulLuke Williams feels Swansea ‘lost grip’ on game despite sealing victory at DerbyNo. 23 Texas A&M aims to hand Oregon first loss at Players Era
ATLANTA — A first-of-its-kind audit showed a nearly identical match to the election night count by using technology to read the text on all 5.3 million Georgia ballots. The audit — required by state law to check the accuracy of voting machines — revealed just 87 discrepancies from all races. Javascript is required for you to be able to read premium content. Please enable it in your browser settings.Judge rejects request to sideline a San Jose State volleyball player on grounds she’s transgender