snoop1130 Posted June 27, 2019 Share Posted June 27, 2019 Govt reveals Bt276bn deficit By The Nation Fiscal budget in the first eight months of this year (October 2018-May) deficit is Bt275.87 billion, according to Lavaron Sangsnit, Director–General of the Fiscal Policy Office and Finance Ministry’s spokesperson said on Thursday. He said the government has received Bt1.563 trillion in revenue during the period. The government budget disbursement was at Bt2.128 trillion. To finance the deficit, the government has borrowed Bt275.879 billion. Therefore, the treasury reserve at the end of May was at Bt319.26 billion, he said. Source: http://www.nationmultimedia.com/detail/breakingnews/30371881 -- © Copyright The Nation 2019-06-27 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
KiChakayan Posted June 27, 2019 Share Posted June 27, 2019 Mostly resulting from votes buying... Link to comment Share on other sites More sharing options...
GeorgeCross Posted June 27, 2019 Share Posted June 27, 2019 that should start easing the baht down a tad Link to comment Share on other sites More sharing options...
bert bloggs Posted June 27, 2019 Share Posted June 27, 2019 8 minutes ago, GeorgeCross said: that should start easing the baht down a tad we wish . Link to comment Share on other sites More sharing options...
Chang_paarp Posted June 27, 2019 Share Posted June 27, 2019 We have been asked to believe that the junta have been such good fiscal managers they need to keep on doing the job. Link to comment Share on other sites More sharing options...
Artisi Posted June 27, 2019 Share Posted June 27, 2019 17 minutes ago, GeorgeCross said: that should start easing the baht down a tad Not wanted by the hi-so, getting more foreign money for their artificial manipulated Bht. so why would they want to change it. Link to comment Share on other sites More sharing options...
Lenny Jones Posted June 27, 2019 Share Posted June 27, 2019 No surprise. This military government are not very good with money. But let's not worry. The strong baht, low exports, more military toys, tourists from North Africa and other war-torn countries will fix it all up. Just ask Mr Fixit and his short, fat mate - - - - - Link to comment Share on other sites More sharing options...
NightSky Posted June 27, 2019 Share Posted June 27, 2019 I expect more 'crack downs' and fines are on the way.. Link to comment Share on other sites More sharing options...
sammieuk1 Posted June 27, 2019 Share Posted June 27, 2019 47 minutes ago, GeorgeCross said: that should start easing the baht down a tad Think it may have the opposite effect as they try to maintain the baht's strength and farangs paying for the deficit based on nothing more than gut feeling ???? Link to comment Share on other sites More sharing options...
Small Joke Posted June 27, 2019 Share Posted June 27, 2019 Fancy ceremonies, and useless submarines add up... Link to comment Share on other sites More sharing options...
Destiny1990 Posted June 27, 2019 Share Posted June 27, 2019 Just borrow more from China. Link to comment Share on other sites More sharing options...
GeorgeCross Posted June 27, 2019 Share Posted June 27, 2019 57 minutes ago, sammieuk1 said: Think it may have the opposite effect as they try to maintain the baht's strength and farangs paying for the deficit based on nothing more than gut feeling ???? baht is strong because surplus so big right? they would rather borrow to build then spend their reserves hence baht stays high. would need to spend down reserves or run a trade deficit or lower interest rates (another way to spend down reserves) to bring the baht down. ergo baht strength is political if i've got this right? Link to comment Share on other sites More sharing options...
shaurene Posted June 28, 2019 Share Posted June 28, 2019 10 hours ago, GeorgeCross said: that should start easing the baht down a tad May not work that way. When countries have high borrowing they try to keep their currency as high as possible to get a good rate of exchange. Link to comment Share on other sites More sharing options...
userabcd Posted June 28, 2019 Share Posted June 28, 2019 All the foreign fast food chains and foreign luxury bauble stores peddling their wares. Link to comment Share on other sites More sharing options...
candide Posted June 28, 2019 Share Posted June 28, 2019 Complete B.S. 2,128 - 1.563 = .565 So the budget deficit is 565 billion, not 275. That's also 26% of expenses. Borrowing money to finance a deficit does not reduce the amount of the deficit. Link to comment Share on other sites More sharing options...
JAG Posted June 28, 2019 Share Posted June 28, 2019 11 hours ago, NightSky said: I expect more 'crack downs' and fines are on the way.. I doubt much, if any, of the money raised by "fines" and "crackdowns" makes it's way through the "informal accounting system" and into the treasury! Link to comment Share on other sites More sharing options...
klauskunkel Posted June 28, 2019 Share Posted June 28, 2019 12 hours ago, snoop1130 said: He said the government has received Bt1.563 trillion in revenue during the period. The government budget disbursement was at Bt2.128 trillion. To finance the deficit, the government has borrowed Bt275.879 billion. Therefore, the treasury reserve at the end of May was at Bt319.26 billion, he said. This deficit is designed in such a way that the government either can't afford a calculator or can't employ someone who can operate a calculator in any case here is the silver lining, also presented by the government: Quote Somkid sees rosy economic outlook in immediate future Link to comment Share on other sites More sharing options...
Bob12345 Posted June 28, 2019 Share Posted June 28, 2019 12 hours ago, snoop1130 said: He said the government has received Bt1.563 trillion in revenue during the period. The government budget disbursement was at Bt2.128 trillion. To finance the deficit, the government has borrowed Bt275.879 billion. Therefore, the treasury reserve at the end of May was at Bt319.26 billion, he said. He said, he said, he said... And now I miss the input of the journalist, who could compare these figures with the figures of the past years to make a comparison so we can actually say something about them. Link to comment Share on other sites More sharing options...
BuckBee Posted June 28, 2019 Share Posted June 28, 2019 deficit is actually much worse than this once add in all junta expenditure on fixing the election, the fat ones watch habit and keeping the government wagon wheels oiled over next few important months ???? the coalition of thieves will hit thailand hard over next couple years and somkid needs cut back on his medicinal cannabis and get back on the abacus and check the numbers lol . Link to comment Share on other sites More sharing options...
ubon farang Posted June 28, 2019 Share Posted June 28, 2019 Cost a lot to stay in government and buy votes and all the rorts they get up to sooner or later the money has to dry up. Are thoses ancient subs they bought off china in the budget. Such a bargain Link to comment Share on other sites More sharing options...
robblok Posted June 28, 2019 Share Posted June 28, 2019 33 minutes ago, Bob12345 said: He said, he said, he said... And now I miss the input of the journalist, who could compare these figures with the figures of the past years to make a comparison so we can actually say something about them. With these figures the deficit is 26,5% seems a bit high and I believe against the law. I thought they had a limit for the height of the deficit. Been looking back but it seems they have a deficit like that for the last couple of years. Crazy high. Link to comment Share on other sites More sharing options...
Eric Loh Posted June 28, 2019 Share Posted June 28, 2019 12 hours ago, snoop1130 said: Therefore, the treasury reserve at the end of May was at Bt319.26 billion, he said. The treasury reserve was at 495 B Baht before the junta took power in 2014; a deficit of 176 B. I hope the opposition MPs will push this government to explain the shortfall as the huge deficit reduces cash liquidity in case of emergency or massive tragedy like the tsunami. Link to comment Share on other sites More sharing options...
robblok Posted June 28, 2019 Share Posted June 28, 2019 Edit Seems it not as bad as it looks its even better as in previous years. https://tradingeconomics.com/thailand/government-debt-to-gdp Link to comment Share on other sites More sharing options...
ChipButty Posted June 28, 2019 Share Posted June 28, 2019 12 hours ago, Small Joke said: Fancy ceremonies, and useless submarines add up... And Tanks Link to comment Share on other sites More sharing options...
ChipButty Posted June 28, 2019 Share Posted June 28, 2019 1 hour ago, candide said: Complete B.S. 2,128 - 1.563 = .565 So the budget deficit is 565 billion, not 275. That's also 26% of expenses. Borrowing money to finance a deficit does not reduce the amount of the deficit. Good job you are here thanks for the correction Link to comment Share on other sites More sharing options...
ChipButty Posted June 28, 2019 Share Posted June 28, 2019 You farangs think to mut, porky will sell a few watches, sorted Link to comment Share on other sites More sharing options...
Eric Loh Posted June 28, 2019 Share Posted June 28, 2019 39 minutes ago, robblok said: With these figures the deficit is 26,5% seems a bit high and I believe against the law. I thought they had a limit for the height of the deficit. Been looking back but it seems they have a deficit like that for the last couple of years. Crazy high. I think it is 20% limit on expenditures and this limit according to the Fiscal Responsibility Act. The budget is actually 3.2 trillion baht. The caveat being that the budget is based on 4% growth which is under some pressure from declining export and global trade. Link to comment Share on other sites More sharing options...
worgeordie Posted June 28, 2019 Share Posted June 28, 2019 Why are the Government borrowing money,when they are supposed to have massive reserves,maybe the are just keeping the reserves for when the bills come in for all the weapons of war they have been buying. regards worgeordie Link to comment Share on other sites More sharing options...
ExpatPH Posted June 28, 2019 Share Posted June 28, 2019 Export down. Real tourist arrival numbers down. Both, most likely to decline further. No sale of reserve gold / reserve baht. Continued high / huge spending in public sector, and infrastructure. 'Economy for dumbies' Link to comment Share on other sites More sharing options...
zhounan Posted June 28, 2019 Share Posted June 28, 2019 deficit...gov has borrowed....When people will understand that a Nation with Sovereignty controls his Monetary System and the Treasure mustn't be independent. (because that's mean it is private). Kick the Rotschild out! Link to comment Share on other sites More sharing options...
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