Amid sluggish economy, budget poses huge challenge to government

[webfact]

 

Unfavorable economic conditions are likely to pose tough challenges for current and future governments in managing the annual budget.

 

The Prayut Chan-o-cha government plans to spend Bt3.185 trillion in fiscal 2023 (October 2022 to September 2023), but the bill is yet to be presented to Parliament.

 

Join our daily ASEAN NOW Thailand Newsletter - Click to subscribe

 

The planned 2.74 percent increase in outlay from the current fiscal year reflects constraints on the government’s finances.

 

Revenue projection is Bt2.49 trillion, resulting in a budget deficit of Bt695 billion, equivalent to 3.89 percent of gross domestic product.

 

Full story: https://www.thaipbsworld.com/amid-sluggish-economy-budget-poses-huge-challenge-to-government/

 

-- © Copyright Thai PBS 2022-04-21

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

- Follow ASEAN NOW on LINE for breaking COVID-19 updates

[worgeordie]

This is why so many people around the World are in debt,

if their Governments cannot balance their books, why should

they, 

Debt seems to be the new normal ,in the past if you got into

debt ,people would feel ashamed , not anymore .

 

I wonder who holds all this debt, I understand China holds a lot

of USA Debt, who else ?

regards Worgeordie

[RafPinto]

Cancel your stupid submarines and other projects and you can balance your books.

[Sydebolle]

They can review the submarine budget as they apparently will be delivered without engines which should have a positive impact on the budget item "new toys for the boys" - or am I getting this wrong again? 

[Excel]

Anything poses a huge challenge to this current government

[Excel]

3 hours ago, RafPinto said:

Cancel your stupid submarines and other projects and you can balance your books.

But with Japan and South Korea now opening up conversations as to whether they should, or not, have a nuclear deterrent in the face of world challenges, how long will it be before Pinocchio and the watch collector decide that they want one to ? Now that will stretch the budget a bit.

[hotchilli]

5 hours ago, webfact said:

Unfavorable economic conditions are likely to pose tough challenges for current and future governments in managing the annual budget.

To buy F-35's or not to buy?

decisions decisions....

[hotchilli]

3 hours ago, worgeordie said:

This is why so many people around the World are in debt,

if their Governments cannot balance their books, why should

they, 

Debt seems to be the new normal ,in the past if you got into

debt ,people would feel ashamed , not anymore .

 

I wonder who holds all this debt, I understand China holds a lot

of USA Debt, who else ?

regards Worgeordie

I'm old school... live out of my ar$e pocket... 

[itsari]

3 hours ago, worgeordie said:

This is why so many people around the World are in debt,

if their Governments cannot balance their books, why should

they, 

Debt seems to be the new normal ,in the past if you got into

debt ,people would feel ashamed , not anymore .

 

I wonder who holds all this debt, I understand China holds a lot

of USA Debt, who else ?

regards Worgeordie

US citizens hold the biggest share of the US debt .

Debt has always been a problem . The aristocracy of medevil England   became slaves to the Jewish lenders so they forced the lenders out of the country .

Dont forget they had debtors in jail as well in history . Jails would be overflowing everywhere if that were the case today .

Many individuals are slaves to the banks the world over . Sad position to be in 

 

[StayinThailand2much]

Just three weeks ago...

 

"March 30, 2022 20:01 JST

BANGKOK -- The Bank of Thailand on Wednesday revised down the country's growth forecast to 3.2%, from 3.4% (...)"

 

7 hours ago, webfact said:

Unfavorable economic conditions are likely to pose tough challenges for current and future governments in managing the annual budget (...)

Well, 3.2% growth doesn't sound so bad.

Edited April 21, 2022 by StayinThailand2much

[Laughing Gravy]

8 hours ago, hotchilli said:

I'm old school... live out of my ar$e pocket... 

I am old school too (traditional). I was always taught never spend beyond your means. Besides a mortgage I had one time in the UK many years ago, I have never borrowed and never will again.  I save up for it (including a house) and pay it off straight away. The banks hate me, as they get no interest from me on credit cards, loans etc.

 

Advice I would give to anyone.

Edited April 21, 2022 by Laughing Gravy

[timendres]

On 4/21/2022 at 11:41 AM, worgeordie said:

This is why so many people around the World are in debt,

if their Governments cannot balance their books, why should

they, 

Debt seems to be the new normal ,in the past if you got into

debt ,people would feel ashamed , not anymore .

 

I wonder who holds all this debt, I understand China holds a lot

of USA Debt, who else ?

regards Worgeordie

As @itsari stated, US citizens are the largest holders of that debt at more than $20T. Many do not realize that their bank savings are often converted to short term treasury notes. Japan actually holds more than China. After China, the UK is next. 

 

https://www.statista.com/statistics/246420/major-foreign-holders-of-us-treasury-debt/

 

[timendres]

On 4/21/2022 at 3:40 PM, itsari said:

Many individuals are slaves to the banks the world over . Sad position to be in 

Quote

 

If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. 

-- Thomas Jefferson

 

 

[billd766]

On 4/21/2022 at 11:47 AM, RafPinto said:

Cancel your stupid submarines and other projects and you can balance your books.

Even if they cancelled ALL the military purchases for the next 10 years, it still won't be enough to balance the books. It would certainly help but not by enough.

[billd766]

On 4/21/2022 at 3:25 PM, hotchilli said:

I'm old school... live out of my ar$e pocket... 

Me too. If I don't have the money I don't buy it.