Govt reaches Bt349 bn fiscal deficit for 11 months

By The Nation

 

 

The government has accumulated a Bt348.97 billion fiscal balance deficit for the first 11 months of the fiscal year 2019 (October 2018 to August 2019), the Fiscal Policy Office and Ministry of Finance report.

 

The government has received Bt2.309 trillion in revenue for the 11-month period, Lavaron Sangsnit, the director–general of the Fiscal Policy Office and the Ministry of Finance spokesperson, said. 

 

Government disbursements were Bt2.7 trillion. To finance the deficit, the government has borrowed Bt348.978 billion, thus leaving a treasury reserve of Bt512.27 billion at the end of August 2019.

 

Source: https://www.nationthailand.com/business/30376354

 

-- © Copyright The Nation Thailand 2019-09-18

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Surely its some misunderstanding.

Little wonder that the Thai population is in debt,when

the Government can't even balance the books,and is

spending like a drunken sailor.its not giving a good 

example,and it's not just Thailand. USA,EU,Oz,most

of the World really.

regards Worgeordie

Edited September 19, 20196 yr by worgeordie
correction

6 minutes ago, worgeordie said:

Little wonder that the Thai population is in debt,when

the Government can't even balance the books,and is

spending like a drunken sailor.its not giving a good 

example,and it's not just Thailand. USA,EU,Oz,most

of the World really.

regards Worgeordie

Not me but  i'll end  up  paying the price no doubt for everyone else's cavalier attitude.

They had $210 billion in foreign exchange reserves.

Subtract the $10 billion they just lost ......

 

They've still got $200 billion left, another 20 years before they run out of cash.

Well, the Hopewell (not "hope well") bill is not paid yet and some open bills will hit the till once the submarines are in port ???? 

On 9/19/2019 at 8:27 AM, BritManToo said:

They had $210 billion in foreign exchange reserves.

Subtract the $10 billion they just lost ......

 

They've still got $200 billion left, another 20 years before they run out of cash.

Not the same as the quoted figures. They say borrowed 349 billion baht, and 512 billion in reserves left. Ah sorry, you are looking at BOT reserves in US dollars …….

 

But they are running a 15% deficit. That isn't really sustainable. The treasury reserves will last 18 months, but who owns the money held by BOT? The government? or other people? If other people, they may not take kindly to it being borrowed to run the country. One to watch.

The whole idea if possible is to run in surplus , however in deficit you need to reign in spending, with purchases like,  Submarines, tanks, fast Chinese trains, and a bit of US armour and  something that Thailand doesn't need, borrowing from China,  otherwise, the budget isn't going to run in surplus for some time. ????  

35 minutes ago, chainarong said:

The whole idea if possible is to run in surplus , however in deficit you need to reign in spending, with purchases like,  Submarines, tanks, fast Chinese trains, and a bit of US armour and  something that Thailand doesn't need, borrowing from China,  otherwise, the budget isn't going to run in surplus for some time. ????  

The budget has been in deficit for each of the last 20 years. Exceptions being 2005 and 2006 (Thaksin budgets).

But like you say some big ticket items coming up like the following:

As well as the fast trains there are mass transit projects in the ministry’s 2018 Action Plan awaiting Cabinet approval: 

• Procurement of new aircraft for Thai Airways International (Bt150 billion).

• Civil works on the southern extension of the MRT Purple Line between Tao Poon and Rat Burana (worth Bt77 billion)

• Phase 3 of the Laem Chabang Deep Sea Port (Bt84 billion)

• Double rail tracks for Jira-Ubon Rachathani (Bt37 billion)

• Double rail tracks for Khon Kaen-Nong Khai (Bt26 billion)

• Double rail tracks for Pak Nam Po-Denchai (Bt62 billion)

• Double rail tracks for Chumpon-Surat Thani (Bt24 billion)

• Double rail tracks for Surat Thani-Hat Yai-Songkhla (Bt57 billion)

• Double rail tracks for Denchai-Chiang Mai (Bt59 billion)