PM kicks off debate on Bt2.38 trillion budget

The Nation

Prime Minister Yingluck Shinawatra on Wednesday submitted the 2012 Budget Bill outlining Bt2.38 trillion spendings focused on populist policies and post-flooding recovery efforts.

The government has earmarked Bt120 billion for flood recovery and restoration spendings. The water management budget is at Bt40 billion.

Price intervention schemes for farming sector will cost Bt90 billion.

The budget deficit is projected at more than Bt400 billion, accounting for 3.4 per cent of gross domestic product. The 2011 fiscal year saw the deficit at 3.7 per cent of GDP.

The public debt is estimated to stay within 40.22 per cent of GDP.

The economic growth rate for 2011 is estimated at 3.5 to 4.0 per cent. Next year growth is projected at 4.5 to 5.5 per cent while the inflation will be capped at 3.0 to 4.0 per cent.

The budget debate is scheduled from today to tomorrow.

The opposition lawmakers are expected to be critical on what they see as lopsided allocations for populist policies and insufficient spendings for post-flooding recovery efforts.

-- The Nation 2011-11-09

The economic growth rate for 2011 is estimated at 3.5 to 4.0 per cent.

The Bank of Thailand on Oct. 28 cut its economic growth forecast for 2011 to 2.6 percent from 4.1 percent.

http://www.bloomberg.com/news/2011-11-01/thailand-s-october-consumer-prices-rise-4-19-from-year-ago.html

The government has earmarked Bt120 billion for flood recovery and restoration spendings.

This is like the fourth wildly different amount the government has spoken about over the past 10 days.

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RT @tukky_nt: How MP Chuwit dresses to attend Parliament meeting: http://yfrog.com/nzk1kwj by Prasert Thepsri

Guaranteed it's going to be a full house wiith all that budgetary projection. let the drooling begin.

RT @tukky_nt: How MP Chuwit dresses to attend Parliament meeting: http://yfrog.com/nzk1kwj by Prasert Thepsri

I think he's on to a new fashion trend. Coming to stores near you.................when the water's gone.

The "Croc" shoes are very appropriate too. Nice touch Chuwit.

The economic growth rate for 2011 is estimated at 3.5 to 4.0 per cent.

The Bank of Thailand on Oct. 28 cut its economic growth forecast for 2011 to 2.6 percent from 4.1 percent.

http://www.bloomberg...m-year-ago.html

The Bank of Thailand will drop its growth forecast even lower for gross domestic product this year as the massive flood works its way through Bangkok and into Samut Sakhon.

The government are in trouble if they are basing their budget on their growth forecasts of 3.5 - 4.0 per cent.

The government knows growth will be lower but they worry they cant spend as much money else

RT @tukky_nt: How MP Chuwit dresses to attend Parliament meeting: http://yfrog.com/nzk1kwj by Prasert Thepsri

Hey, I love it!

they should delay this till after the flood .Theres too much at stake to just sign off on all these populist nonsense policies when so much will be needed for reconstruction and a water management system .

RT @tukky_nt: How MP Chuwit dresses to attend Parliament meeting: http://yfrog.com/nzk1kwj by Prasert Thepsri

Chuwit with a tub - that's a new one!

RT @tukky_nt: How MP Chuwit dresses to attend Parliament meeting: http://yfrog.com/nzk1kwj by Prasert Thepsri

Can it be that this picture is shown in the dictionary for the term "attention who...seeker"?

The Pheu Thai Party has transformed its headquarter into a shelter for MPs faced with flooding of their homes, MP Sakda Kongphet said on Wednesday.

"As their homes were inundated, MPs could stay at the party headquarters during the budget debate," he said.

Sakda said the main coalition party would provide lodging and transportation facilities in order to ensure the quorum for the passage of the Budget Bill.

There we see the true face of the current coalition government. No interest in the affected people, only interested in the passing of the budget bill

One must ask why is such importance attached to the bill when chaos reigns all around ?

Edited November 9, 201114 yr by siampolee

Money for everyone including buying more votes andespecially themself for all the big projects, but not for the good of country

Money for everyone including buying more votes andespecially themself for all the big projects, but not for the good of country

They may as well have a blow out, get as much as they can out the job, much of it was only carefully put there by the last P.M. who left with fairly clean books given the global problems................... agree about the money's, should take care of the immediate situ first.

Heres a bit that will upset a few, Thais are very good at squandering other peoples money--I think 90% will agree to that.

Apart from doubt on economical growth forecast, no real comments yet. Waiting for further details. Like what about the THB 400 billion earmarked for the rice price pledging scheme from Oct 7th, 2010 till Feb 28th, 2011 period. THB 40 billion of water management seems a bit low unless it's mainly for investigations, consultancy work, and the like. We'll see.

The budget isn't large than that? 2.38 trillion baht? Italy's debt is 1.9 trillion-euro ($2.6 trillion) - close to 80 trillion baht.

The economic growth rate for 2011 is estimated at 3.5 to 4.0 per cent.

The Bank of Thailand on Oct. 28 cut its economic growth forecast for 2011 to 2.6 percent from 4.1 percent.

http://www.bloomberg.com/news/2011-11-01/thailand-s-october-consumer-prices-rise-4-19-from-year-ago.html

Dropping lower and lower and...

The economy may grow between 0.5 percent and 1.5 percent this year if floods reach all of Bangkok’s 50 districts, according to economist Thanavath Phonvichai.

http://www.bloomberg.com/news/2011-11-10/thai-floods-threaten-to-swamp-main-road-linking-bangkok-to-south.html

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The budget isn't large than that? 2.38 trillion baht? Italy's debt is 1.9 trillion-euro ($2.6 trillion) - close to 80 trillion baht.

One thing that makes me go hmmmm about this (not only in Thailand)

They don't know the cost of individual items in a Bt800 flood relief bag, but they know that it's going to cost Bt2.38 Trillion to repair the damage, even before the waters have drained away.

Crystal ball with a built-in calculator?

The budget isn't large than that? 2.38 trillion baht? Italy's debt is 1.9 trillion-euro ($2.6 trillion) - close to 80 trillion baht.

One thing that makes me go hmmmm about this (not only in Thailand)

They don't know the cost of individual items in a Bt800 flood relief bag, but they know that it's going to cost Bt2.38 Trillion to repair the damage, even before the waters have drained away.

Crystal ball with a built-in calculator?

Apropos of above and thread title: Thailand's Prime Minister Yingluck Kicks Off Debate On Budget:

Italy’s Prime Minister Silvio Berlusconi said today he would resign after the country’s budget is passed.

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Edited November 10, 201114 yr by Buchholz