Finance Minister Expresses Confidence in Thailand’s Fiscal Stability

[webfact]

 

by Krajangwit Johjit

    

BANGKOK (NNT) - Finance Minister Arkhom Termpittayapaisith has insisted that Thailand retains sufficient fiscal stability to enable the government to expand the economy despite soaring food and oil prices caused by strong demand and the Russia-Ukraine war.

 

According to the finance minister, as of March 10, the government’s treasury had accumulated 418.58 billion baht in the first five months of fiscal budget 2022, down 97.64 billion baht from 516.22 billion baht in the same period last fiscal year.

 

Arkhom stated that expenditure totaled 1.42 trillion baht in the first five months of this fiscal year, up 1.6 percent from 1.40 trillion baht in the same period last fiscal year. Despite a decline in government revenues, he affirmed that the treasury remains stable and sufficient for the government to manage the economy in a growth-oriented manner.

 

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The finance minister anticipated that the government’s treasury position would improve significantly as a result of increased income tax and personal income tax collections in April and May, as well as the government’s ability to maintain its fiscal year revenue forecast of 2.4 trillion baht.

 

Arkhom stated that in light of the high inflation rate in January and February, which was largely driven by rising food and energy prices, the government must take additional measures to reduce energy and food prices in order to contain inflationary pressures this year.

 

The minister suggested tightening monetary policy further to allow for economic growth while maintaining that Thailand still has ample liquidity worth up to 2.5-3 trillion baht and foreign reserves of US$245 billion in February.

 

Meanwhile, Deputy Prime Minister Supattanapong Punmeechaow stated that he expects the European conflict to be resolved within three months and that the government has already prepared advance measures to assist low-income earners and ordinary citizens during that time.

 

-- © Copyright NNT 2022-03-26

 

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[smedly]

26 minutes ago, webfact said:

Finance Minister Arkhom Termpittayapaisith has insisted that Thailand retains sufficient fiscal stability

well that is a red flag right there 

 

as usual the real indications read very differntly, lets lead with household dept and go from there 

 

then there is a missing 25% (at least) of lost tourism GDP for almost two and half years.

 

Then slap Covid on top of that - maybe this guy is talking about his own fiscal stability and that of his mates in government who seem to be doing very well indeed - the multiple Billionarse running the show who can't get money into their pockets fast enough ............................ lets have another emergency budget that seems to dissapear down some black hole and nobody to hold them to account or doing the accounts 

[ukrules]

Well he would say that wouldn't he? ????

 

Does Thailand have a 'shadow finance minister' in the opposition? I wonder what their take on the current situation is.....

[hotchilli]

3 hours ago, webfact said:

Finance Minister Arkhom Termpittayapaisith has insisted that Thailand retains sufficient fiscal stability to enable the government to expand the economy despite soaring food and oil prices caused by strong demand and the Russia-Ukraine war.

Of course he would, he wants to remain employed.

[RichardColeman]

You mean that dirt poor farmer living in his tin shack is at risk of defaulting on his new pick-up, latest phone, shinny modern motorbike, 75" TV, 5ft satellite dish and sound system  ? Tell me it isn't so.

[blazes]

Farmers need fertilisers at an affordable price, but all they get is fertiliser of the mouth, spelt b u l l $ h i t e...

[mikebell]

3 hours ago, ukrules said:

Well he would say that wouldn't he? ????

 

Does Thailand have a 'shadow finance minister' in the opposition? I wonder what their take on the current situation is.....

A fraction of what those in-the-know take.

[Excel]

All wearing the same matching clown suits too. Every picture tells a story

Edited March 26, 2022 by Excel

[klauskunkel]

5 hours ago, webfact said:

Meanwhile, Deputy Prime Minister Supattanapong Punmeechaow stated that he expects the European conflict to be resolved within three months

Maybe consult with Chalerm Yubamrung, he could solve any crisis within 7 days.

[Lucky Bones]

Most have heads down.....check calculator batteries....not enuff zeros on screen?

[herfiehandbag]

10 minutes ago, Excel said:

All wearing the same matching clown suits too. Every picture tells a story

Mind you, the masks help tremendously, to hide the expressions of panic!

Edited March 26, 2022 by herfiehandbag

[MrJ2U]

"Finance Minister Expresses Confidence in Thailand’s Fiscal Stability"

 

of course he would.

 

Not many people have much confidence in what this government says or does in any case.

[Cake Monster]

7 hours ago, smedly said:

well that is a red flag right there 

 

as usual the real indications read very differntly, lets lead with household dept and go from there 

 

then there is a missing 25% (at least) of lost tourism GDP for almost two and half years.

 

Then slap Covid on top of that - maybe this guy is talking about his own fiscal stability and that of his mates in government who seem to be doing very well indeed - the multiple Billionarse running the show who can't get money into their pockets fast enough ............................ lets have another emergency budget that seems to dissapear down some black hole and nobody to hold them to account or doing the accounts 

The real indicators are the fact that the Banks are being downgraded due to " Liquidity Issues "

That means they are lending out too much money over the asset value of the Loan.

We all know what the ultimate finale to a scenario such as this is .

[John Drake]

8 hours ago, webfact said:

The minister suggested tightening monetary policy further to allow for economic growth

Doesn't tightening do just the opposite?

[John Drake]

9 hours ago, webfact said:

Meanwhile, Deputy Prime Minister Supattanapong Punmeechaow stated that he expects the European conflict to be resolved within three months

Glad Rommel has it figure out.

[cncltd1973]

sorry, but can you trust what any minister in a military gov't says? I'll listen to the bankers, at least they are held accountable by the board members and don't jail their rivals