Sathit Limpongpan, who also served as permanent secretary, shared that he began his career as a lecturer at Thammasat University before receiving a scholarship to study abroad and eventually returning to serve at the ministry. He assumed the post of permanent secretary in 2009.
During the 2008 global financial crisis, known locally as the “hamburger crisis”, he explained that the Finance Ministry had to respond swiftly to the economic contraction that hit the Thai economy.
Under Prime Minister Abhisit Vejjajiva, the government introduced a short-term stimulus package, providing a cash handout of 2,000 baht per person, totalling 19 billion baht.
He emphasised the importance of targeting policies at vulnerable groups. At the time, the ministry collaborated with the Social Security Office (SSO) to distribute the funds to insured persons under Section 33, ensuring the support reached grassroots communities, he explained.
To support economic recovery, Sathit said the ministry collaborated with multiple agencies to launch infrastructure projects worth 1.9 trillion baht. These included physical infrastructure like roads and airports, as well as institutional reforms such as civil service and regulatory development.
He noted that this initiative significantly improved Thailand’s infrastructure, providing both short-term relief and medium-term recovery. As a result, GDP rebounded with a 7.5% growth rate in 2009.
Sathit added that he was proud to have led property tax reform, including the introduction of the land and buildings tax, which helped decentralise fiscal authority to local agencies. He also promoted the establishment of the National Savings Fund (NSF) to ensure all citizens had access to retirement savings.
Lavaron Sangsnit, the current permanent secretary, affirmed the ministry’s critical role in driving Thailand’s economic and social development by managing the nation’s finances.
He said the ministry is now working to broaden the tax base. At present, state revenue collection accounts for only 12–13% of GDP, and the goal is to increase this to 18% to allow for a balanced budget.
“During recent crises, the Finance Ministry has played a key role in leading the country through difficult times, thanks to the dedication and integrity of its personnel and former secretaries,” he said.
Lavaron highlighted the ministry’s response during the Covid-19 pandemic, when it provided monthly relief payments of 5,000 baht for three months to those who lost their jobs. It was an enormous challenge, but we overcame it, delivering payments via the PromptPay system without any incidents of fraud, he said.
