Govt reveals Bt276bn deficit

[snoop1130]

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

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[KiChakayan]

Mostly resulting from votes buying...

[GeorgeCross]

that should start easing the baht down a tad

[bert bloggs]

8 minutes ago, GeorgeCross said:

that should start easing the baht down a tad

we wish .

[Chang_paarp]

We have been asked to believe that the junta have been such good fiscal managers they need to keep on doing the job.

[Artisi]

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. 

Edited June 27, 2019 by Artisi

[Lenny Jones]

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 - - - - -

[NightSky]

I expect more 'crack downs' and fines are on the way..

 

Edited June 27, 2019 by NightSky

[sammieuk1]

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 ???? 

[Small Joke]

Fancy ceremonies, and useless submarines add up...

[Destiny1990]

Just borrow more from China.

[GeorgeCross]

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?

 

 

[shaurene]

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.

[userabcd]

All the foreign fast food chains and foreign luxury bauble stores peddling their wares.

[candide]

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.

[JAG]

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!

Edited June 28, 2019 by JAG

[klauskunkel]

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

 

[Bob12345]

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.

[BuckBee]

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 .

[ubon farang]

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

[robblok]

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. 

Edited June 28, 2019 by robblok

[Eric Loh]

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. 

[robblok]

Edit

 

Seems it not as bad as it looks its even better as in previous years.

 

 

https://tradingeconomics.com/thailand/government-debt-to-gdp

[ChipButty]

12 hours ago, Small Joke said:

Fancy ceremonies, and useless submarines add up...

And Tanks

[ChipButty]

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 

[ChipButty]

You farangs think to mut, porky will sell a few watches, sorted

[Eric Loh]

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. 

[worgeordie]

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

[ExpatPH]

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'

[zhounan]

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!