Thailand: August public debts at 44.63% of GDP

[webfact]

August public debts at 44.63% of GDP
By English News



BANGKOK, Oct 19 – Thailand’s public debt in August was Bt5.3 trillion, or 44.63 per cent of gross domestic product (GDP), according to a senior Finance Ministry official report.

Chularat Suteethorn, director general of the Public Debt Management Office, said public debt originated from the government at Bt3.678 trillion, non-financial state enterprises at Bt1.097 trillion, special financial institutions at Bt524.133 billion and autonomous agencies at Bt834.69 billion.

The Financial Institutions Development Fund was debt free.

Public debt in August increased by Bt74.276 billion from July.

Ms Chularat said the Bt5.3 trillion public debt constituted international debts at Bt375 billion or 7.09 per cent, and domestic debts at Bt4,924 billion or 92.91 per cent.

Somchai Sujjapongse, director general of the Fiscal Policy Office, said the government’s revenue for the 2013 fiscal year was Bt2,156 trillion, exceeding the target by Bt57.4 billion or 2.7 per cent, and higher than last year’s revenue by 9.2 per cent.

The major contributing factor was revenue from autonomous agencies which was Bt47.8 billion or 45.7 per cent higher than projection, partly thanks to the high revenues from petroleum concessions and third-generation frequency (3G) biddings.

He said the revenue in the 2013 fiscal year, which was Bt50 billion over target, has strengthened Thailand’s financial stability and economic expansion for the next budget year. (MCOT online news)


-- TNA 2013-10-19

[brit1984]

a ratio most western countries can only dream of achieving

i recommend borrowing more to invest in infrastructure

[soi41]

a ratio most western countries can only dream of achieving

i recommend borrowing more to invest in infrastructure

The big difference here is, that from western countries we are getting the real numbers!

As for infrastructure investment, I agree with you. But borrow domistically, plenty of money floating around here.

[Robby nz]

The big difference here is, that from western countries we are getting the real numbers!

As for infrastructure investment, I agree with you. But borrow domistically, plenty of money floating around here.

That's what they have already done.

The 350 billion was all borrowed from Thai banks the majority from Govt owned banks.

One of the ministers has said that 60% of the 2.2 trillion will be borrowed from Thai banks, where the rest will come from who knows.

It was reported a short while back that the smaller govt banks were in trouble because of NPL's and in another news item today it is said the AG bank has stopped paying farmers because it has run out of money.

Would you lend this Govt money?

[clockman]

Remember nothing in Thailand is real! smoke and mirrors.

[Naam]

The big difference here is, that from western countries we are getting the real numbers!

[Naam]

Remember nothing in Thailand is real! smoke and mirrors.

and honesty is found only in western countries!

[Thai at Heart]

The big difference here is, that from western countries we are getting the real numbers!

As for infrastructure investment, I agree with you. But borrow domistically, plenty of money floating around here.

That's what they have already done.

The 350 billion was all borrowed from Thai banks the majority from Govt owned banks.

One of the ministers has said that 60% of the 2.2 trillion will be borrowed from Thai banks, where the rest will come from who knows.

It was reported a short while back that the smaller govt banks were in trouble because of NPL's and in another news item today it is said the AG bank has stopped paying farmers because it has run out of money.

Would you lend this Govt money?

The last sentence is the problem.. Essentially, the numbers are good, but when the flag ship policy of the whole country is mired in bs, the finance minster says it's OK to have white lies and the corruption index is going only one way, would engine really trust it?

[Naam]

One of the ministers has said that 60% of the 2.2 trillion will be borrowed from Thai banks, where the rest will come from who knows.

for the record: the often mentioned 2.2 trillion, earmarked to improve the countries infrastructure, will be borrowed and used over a period of up to two decades! any reference to that amount not in context with the afore-mentioned is ignorant

[MJP]

a ratio most western countries can only dream of achieving

i recommend borrowing more to invest in infrastructure

Definitely not.

Until the thieving and corruption is essentially arrested, big proportions of budgets will simply get stolen leaving the nation in more debt and with the same poor infrastructure.

[brit1984]

^ might be waiting a while for an end to corruption but its a valid point

i wish western countries had arrested the "corruption" of buying votes through the welfare state before they borrowed so much

[Baerboxer]

Remember nothing in Thailand is real! smoke and mirrors.

and honesty is found only in western countries!

Of course - Western countries and banks - honest as the day is long, no really, honestly !

[mccw]

a ratio most western countries can only dream of achieving

i recommend borrowing more to invest in infrastructure

Definitely not.

Until the thieving and corruption is essentially arrested, big proportions of budgets will simply get stolen leaving the nation in more debt and with the same poor infrastructure.

Even with the skimming they'll get it all built in one third of the time and more than half the cost of any western project. Look at the HSR proposals in UK or Aus as example of complete inefficiency.

[mccw]

See yesterday's nation page two or 3 in the biz section I think. Most Thai banks are enjoying record profits and growth, while capital ratios stand at 10-27%.