Govt deficit grows

By The Nation

 

Thailand’s fiscal budget deficit rose 12.7 per cent in the first seven months of the current fiscal year (October 2018 to April 2019) to Bt619.88 billion, from Bt549.9 billion in the same period last year, according to Lavaron Sangsnit, Director–General of the Fiscal Policy Office and Ministry of Finance’s Spokesperson.

 

To cover the deficit, the government has borrowed Bt236.77 billion,  he said.

 

The treasury reserve stood at Bt263.95 billion at the end of April 2019.

 

Source: http://www.nationmultimedia.com/detail/Economy/30370294

 

-- © Copyright The Nation 2019-05-30

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All sorted then just borrow 236 billion and life goes on!.

Of course, votes had to be bought....

Getting elected ain't cheap!

Oink, Oink!

Will the Baht go up?

No wonder they are dreaming up so many money grab schemes 

 

Tourist insurance 

Expat insurance 

Retirement visa money lockup 

 

12 hours ago, Fex Bluse said:

No wonder they are dreaming up so many money grab schemes 

 

Tourist insurance 

Expat insurance 

Retirement visa money lockup 

 

New Tanks, new submarines, new planes....the trough is bottomless!

The end is nigh....

No problem. Always endless tax money for the military when the Military is the gov't. Deficit? What's a deficit, asks the Military. Leaders.

They have a budget borrowing limit up to 710 B Baht before they run foul of the Fiscal Responsibility Act. Not that Article 44 can't fix for their insatiable appetite for military hardware.   

This will all end with a Chinese bail out.

Possibly behind the scenes.

The Chinese love this place. Want to control and basically own Thailand.

It is coming you will see.

16 hours ago, snoop1130 said:

To cover the deficit, the government has borrowed Bt236.77 billion,  he said.

 

The treasury reserve stood at Bt263.95 billion at the end of April 2019.

So does that mean they have 27.18 billion Baht,left in the kitty ,

 if they had to pay off the loan,not a lot for a country,

 

regards worgeordie

14 hours ago, Fex Bluse said:

No wonder they are dreaming up so many money grab schemes 

 

Tourist insurance 

Expat insurance 

Retirement visa money lockup 

 

Plus ...............

Red light cameras.

Tags for no helmet.

Taxing online sales.

In-the-mail speeding tickets.

Plus, plus, plus.

1 hour ago, Eric Loh said:

They have a budget borrowing limit up to 710 B Baht before they run foul of the Fiscal Responsibility Act. Not that Article 44 can't fix for their insatiable appetite for military hardware.   

Is that 710 the limit for this year or the absolute limit (for the future) ?

 

Most countries have a limit based on GDP ? Thailand has an absolute limit ?

 

Id like to know Eric I have no clue.

2 hours ago, jerojero said:

No problem. Always endless tax money for the military when the Military is the gov't.

There's a few more countries that qualify under that criteria! 

6 minutes ago, robblok said:

Is that 710 the limit for this year or the absolute limit (for the future) ?

 

Most countries have a limit based on GDP ? Thailand has an absolute limit ?

 

Id like to know Eric I have no clue.

It is the approved limit set by BOT and chaired by Prayut for this year budget. It is based on a percentage of the GDP and growth at 4%. I can't remember the details but try to look for it in my spare time. All the budget spending are governed by the Fiscal Responsibility Act. 

Just now, Eric Loh said:

It is the approved limit set by BOT and chaired by Prayut for this year budget. It is based on a percentage of the GDP and growth at 4%. I can't remember the details but try to look for it in my spare time. All the budget spending are governed by the Fiscal Responsibility Act. 

So they are way within their limits, and its not a hard cap but one based on GDP. Would be bad if they ever reach that limit because GDP does not go up so much anymore and deficits are usually higher then the GDP increase. Lean times ahead if they ever get that high in spending.

 

Thanks I did think it was GDP based that was why a hard figure sounded strange.

Not too many countries have a budget in surplus. It's a race to the bottom.

17 hours ago, snoop1130 said:

The treasury reserve stood at Bt263.95 billion at the end of April 2019.

This is more worrisome. When the junta seized power in 2014, the treasury reserve was 490 B Baht. It since have dropped substantially. 

 

That's alright, just slap more tax on tourists at the border. Gotta keep that trough filled up to the brim.

22 minutes ago, Lacessit said:

Not too many countries have a budget in surplus. It's a race to the bottom.

It's due to the ponzi schemes they are all running. Each generation must be bigger then the next one. But the planet is reaching or has reached it's limits already so it's going to crash soon enough. 1/3rd of the current population as it was around 1950's would be about the max. Overpopulation is the number 1 problem in the world today.

 

https://en.wikipedia.org/wiki/World_population#/media/File:World_population_v3.svg

 

 

23 minutes ago, Eric Loh said:

It is the approved limit set by BOT and chaired by Prayut for this year budget.

There is some manipulation of the budget.

The military has purchased billions of baht in military hardware over the last five years using supplier loans for 100% of the purchase price (loan principle). Typically that means that in each fiscal year the government includes in the budget only the principle and interest amounts applicable/obligated to that year. The total remaining debt is only a footnote in the budget and not a line item.

30 minutes ago, Eric Loh said:

It is based on a percentage of the GDP and growth at 4%.

It would be interesting if Prayut personally could be held liable for any additional debt service (principle & interest) required if the GDP growth rate falls below 4% average for the year.

If Prayut became the PM in the next government (no longer having Article 44 to shield himself), there might well be legal and precedent grounds for such financial obligation on Prayut if proven in hindsight to have been malfeasant recklessness.

So expect next move from immigration ….800K for ret. ext.  full year seasoning ...???? , so by this more foreign money for the banks ,assuring the strong baht, as they already have very big foreign currency supply covering it.

And don't forget in august 2019 they only have deposit guarantee 1 million coming from very much higher guarantee  , warning lights start glowing a little ...

see attachment of 15 million in 2016/2018

Edited May 31, 20197 yr by david555

Thai second quarter growth pace seen faster than Q1 - ministry

quite some confusing news, is it growth or deficit

17 minutes ago, david555 said:

So expect next move from immigration ….800K for ret. ext.  full year seasoning ...???? , so by this more foreign money for the banks ,assuring the strong baht, as they already have very big foreign currency supply covering it.

And don't forget in august 2019 they only have deposit guarantee 1 million coming from very much higher guarantee  , warning lights start glowing a little ...

see attachment of 15 million in 2016/2018

Ah, good scheme, so put the coverage to 0 by 2021 and then scoop up all the 800k's to their pockets. Most excellent racket.

19 minutes ago, david555 said:

So expect next move from immigration ….800K for ret. ext.  full year seasoning ...???? , so by this more foreign money for the banks ,assuring the strong baht, as they already have very big foreign currency supply covering it.

And don't forget in august 2019 they only have deposit guarantee 1 million coming from very much higher guarantee  , warning lights start glowing a little ...

see attachment of 15 million in 2016/2018

That's not what your chart indicates.

18 minutes ago, david555 said:

So expect next move from immigration ….800K for ret. ext.  full year seasoning ...???? , so by this more foreign money for the banks ,assuring the strong baht, as they already have very big foreign currency supply covering it.

And don't forget in august 2019 they only have deposit guarantee 1 million coming from very much higher guarantee  , warning lights start glowing a little ...

see attachment of 15 million in 2016/2018

And 11 Aug 2021 ? No guarantee ?

2 minutes ago, Ozman52 said:

That's not what your chart indicates.

oh I see I reversed the digits 2019 to 1920 a mistake 

Edited May 31, 20197 yr by david555