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Thailand Adopts Deficit Budget To Spur Growth

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Thailand adopts deficit budget to spur growth

Wed Jul 4, 2007 3:21AM EDT

By Vithoon Amorn

BANGKOK, July 4 (Reuters) - Thailand's army-appointed parliament began a one-day debate on Wednesday on a 2007/08 deficit budget aimed at reversing a slowdown of economic growth and giving a hefty boost to defence spending.

The budget bill, introduced in parliament by Prime Minister Surayud Chulanont, included a 24.3 percent annual rise in defence spending for the year starting Oct. 1, the second hefty raise in a row after a 33.8 percent rise a year earlier.

Reuters.com

Edited by Mid

Thailand adopts deficit budget to spur growth

Wed Jul 4, 2007 3:21AM EDT

By Vithoon Amorn

BANGKOK, July 4 (Reuters) - Thailand's army-appointed parliament began a one-day debate on Wednesday on a 2007/08 deficit budget aimed at reversing a slowdown of economic growth and giving a hefty boost to defence spending.

The budget bill, introduced in parliament by Prime Minister Surayud Chulanont, included a 24.3 percent annual rise in defence spending for the year starting Oct. 1, the second hefty raise in a row after a 33.8 percent rise a year earlier.

Reuters.com

So, in other words, the military award themselves a 24.3% pay rise - because they can! :o

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