Thai Finance Ministry announces three priorities

[webfact]

Finance announces three priorities
Erich Parpart
The Nation

Economic recovery, lowering public debt, revamping taxes top Sommai's agenda

BANGKOK: -- The Finance Ministry yesterday laid down three priority policies to strengthen the country's financial fundamentals - urgently boosting the economy, reining in public debt, and refining the tax structure - while hoping they will be continued by the elected government expected in about a year.

Sommai Phasee, the new minister, said there was a definite need to stimulate the economy through public investment and the country had the financial capacity to accomplish that.

Public debt is still at a "manageable" level, the central government still has a large leftover budget from last year, and the Bt350-billion budget for local governments to invest that has yet to be disbursed because of the political turmoil can be used straight away.

The economy has not recovered as fast as expected. However, this year should still see an expansion despite the contraction of 0.5 per cent in the first quarter. Growth in the final quarter should be much better than 2 per cent.

"I am a straightforward person. I believe that it would be a blessing if the economy could grow by 2 per cent this year," he said.

The central government, local governments, state enterprises and special administration zones such as Bangkok have to work together to rev up the economy through investment, he said. There are some small projects that have been long studied and can be commenced right away in the first quarter of the next fiscal year beginning on October 1.

"We have talked much about investment and we have to start now," he said.

"Other countries such as some in Europe have limitations. They are facing a dead-end, since their budgets are at the limit and their public debt has exceeded 100 per cent of gross domestic product.

"Our country, with the same basics, has … about 47 per cent debt to GDP, which makes me happy, since we have room to invest and our financial situation is stable," he said.

Two ways to manage public debt would be to issue bonds and to promote public-private partnerships to lower the cost burden of new investment projects. Both plans are undergoing research and the details will be revealed once the study process is complete.

As for the restructuring the tax system, right now the only "certain" thing is "uncertainty". The ministry is looking at every option that has been proposed to it in terms of expanding the tax base and bridging the gap between the rich and poor through the introduction of progressive measures such as an inheritance tax and a real-estate tax.

Those two proposed taxes are "tangible" ideas that have taken shape the most, he said. However, it is still not definite that the ministry will introduce and implement both of them at the same time.

The cancellation of tax incentives for long-term equity funds and retirement mutual funds is still being studied since ministry officials need to find out who are the biggest beneficiaries in both schemes - the rich or the poor.

Sommai has ruled out a national referendum on the introduction of the two new taxes, noting that an increase in the value-added tax by the end of next year is still one of the targets of the ministry.

When asked by a reporter if these grand plans can be met in one year, Phasee said, "you are right" that they might not be finished that quickly.

The prime minister has given his commitment and the current plans, if unfinished, can still act as a guideline and pave the way for the next government to follow as a strategy that can provide much-needed clarity on how the country will move forward from the current position, the finance minister said.

Source: http://www.nationmultimedia.com/business/Finance-announces-three-priorities-30243341.html


-- The Nation 2014-09-16

[Diplomatico]

"The cancellation of tax incentives for long-term equity funds and retirement mutual funds is still being studied since ministry officials need to find out who are the biggest beneficiaries in both schemes - the rich or the poor."

(Supresses laughter.)

[Pib]

As for the restructuring the tax system, right now the only "certain" thing is "uncertainty". The ministry is looking at every option that has been proposed to it in terms of expanding the tax base and bridging the gap between the rich and poor through the introduction of progressive measures such as an inheritance tax and a real-estate tax.

Those two proposed taxes are "tangible" ideas that have taken shape the most, he said. However, it is still not definite that the ministry will introduce and implement both of them at the same time.

Sounds like maybe they are already starting to backtrack/think twice on implementing inheritance tax and a real-estate tax...or maybe just one of these proposals is getting most of the public backlash. My guess if either is implemented they will be watered-down greatly.

[trainman34014]

As for the restructuring the tax system, right now the only "certain" thing is "uncertainty". The ministry is looking at every option that has been proposed to it in terms of expanding the tax base and bridging the gap between the rich and poor through the introduction of progressive measures such as an inheritance tax and a real-estate tax.

Those two proposed taxes are "tangible" ideas that have taken shape the most, he said. However, it is still not definite that the ministry will introduce and implement both of them at the same time.

Sounds like maybe they are already starting to backtrack/think twice on implementing inheritance tax and a real-estate tax...or maybe just one of these proposals is getting most of the public backlash. My guess if either is implemented they will be watered-down greatly.

Personally i seriously doubt these particular taxes will ever be implemented as the rich are the ones who have most to lose.

[fab4]

"Public debt is still at a "manageable" level, the central government still has a large leftover budget from last year, and the Bt350-billion budget for local governments to invest that has yet to be disbursed because of the political turmoil can be used straight away...........

................Other countries such as some in Europe have limitations. They are facing a dead-end, since their budgets are at the limit and their public debt has exceeded 100 per cent of gross domestic product. Our country, with the same basics, has … about 47 per cent debt to GDP, which makes me happy, since we have room to invest and our financial situation is stable,"

Now I'm sure I read on here that the PTP government had raped the country, bled the treasury dry and stolen all the money from the flood management scheme fund. Surely all those posters can't have been wrong and that all along they were just "misrepresenting the truth" about the previous government?

[ginjag]

"Public debt is still at a "manageable" level, the central government still has a large leftover budget from last year, and the Bt350-billion budget for local governments to invest that has yet to be disbursed because of the political turmoil can be used straight away...........

................Other countries such as some in Europe have limitations. They are facing a dead-end, since their budgets are at the limit and their public debt has exceeded 100 per cent of gross domestic product. Our country, with the same basics, has … about 47 per cent debt to GDP, which makes me happy, since we have room to invest and our financial situation is stable,"

Now I'm sure I read on here that the PTP government had raped the country, bled the treasury dry and stolen all the money from the flood management scheme fund. Surely all those posters can't have been wrong and that all along they were just "misrepresenting the truth" about the previous government?

Fantastic defense.?? anything else you have tended to overlook ??

[Nickymaster]

"Public debt is still at a "manageable" level, the central government still has a large leftover budget from last year, and the Bt350-billion budget for local governments to invest that has yet to be disbursed because of the political turmoil can be used straight away...........

................Other countries such as some in Europe have limitations. They are facing a dead-end, since their budgets are at the limit and their public debt has exceeded 100 per cent of gross domestic product. Our country, with the same basics, has … about 47 per cent debt to GDP, which makes me happy, since we have room to invest and our financial situation is stable,"

Now I'm sure I read on here that the PTP government had raped the country, bled the treasury dry and stolen all the money from the flood management scheme fund. Surely all those posters can't have been wrong and that all along they were just "misrepresenting the truth" about the previous government?

Yes they where in the process of doing that and luckily they where stopped. We saw that with the rice fiasco. The fact that corruption increased under Yingluck's watch is no coincidence neither.

[fab4]

"Public debt is still at a "manageable" level, the central government still has a large leftover budget from last year, and the Bt350-billion budget for local governments to invest that has yet to be disbursed because of the political turmoil can be used straight away...........

................Other countries such as some in Europe have limitations. They are facing a dead-end, since their budgets are at the limit and their public debt has exceeded 100 per cent of gross domestic product. Our country, with the same basics, has … about 47 per cent debt to GDP, which makes me happy, since we have room to invest and our financial situation is stable,"

Now I'm sure I read on here that the PTP government had raped the country, bled the treasury dry and stolen all the money from the flood management scheme fund. Surely all those posters can't have been wrong and that all along they were just "misrepresenting the truth" about the previous government?

Yes they where in the process of doing that and luckily they where stopped. We saw that with the rice fiasco. The fact that corruption increased under Yingluck's watch is no coincidence neither.

Oh, I see, that explains it then.

Is it the same kind of "in the process of doing that" phrase that is often used when accusing them of "being in the process of" establishing a dictatorship? The phrase that is based on personal opinion and supposition with no basis in reality? Just so as I know

Edited September 16, 2014 by fab4

[Nickymaster]

"Public debt is still at a "manageable" level, the central government still has a large leftover budget from last year, and the Bt350-billion budget for local governments to invest that has yet to be disbursed because of the political turmoil can be used straight away...........

................Other countries such as some in Europe have limitations. They are facing a dead-end, since their budgets are at the limit and their public debt has exceeded 100 per cent of gross domestic product. Our country, with the same basics, has … about 47 per cent debt to GDP, which makes me happy, since we have room to invest and our financial situation is stable,"

Now I'm sure I read on here that the PTP government had raped the country, bled the treasury dry and stolen all the money from the flood management scheme fund. Surely all those posters can't have been wrong and that all along they were just "misrepresenting the truth" about the previous government?

Yes they where in the process of doing that and luckily they where stopped. We saw that with the rice fiasco. The fact that corruption increased under Yingluck's watch is no coincidence neither.

Oh, I see, that explains it then.

Is it the same kind of "in the process of doing that" phrase that is often used when accusing them of "being in the process of" establishing a dictatorship? The phrase that is based on personal opinion and supposition with no basis in reality? Just so as I know

Thanks for reminding us but it has little to do with the topic.

Removing checks and balances, trying to whitewash your own family members from their crimes, not agreeing with having governors elected, putting your friends and family members in charge and having red shirts targeting people and departments that don't obey to you, smells like establishing a dictatorship.

And I didn't even mention the famous Men In Black who are starting to be caught after Yingluck was removed. And the DSI saying that they have been a political tool doesn't help neither to say the least.

It's not just personal opinion fab4. These are all facts.

Edited September 16, 2014 by Nickymaster

[Bender]

"Public debt is still at a "manageable" level, the central government still has a large leftover budget from last year, and the Bt350-billion budget for local governments to invest that has yet to be disbursed because of the political turmoil can be used straight away...........

................Other countries such as some in Europe have limitations. They are facing a dead-end, since their budgets are at the limit and their public debt has exceeded 100 per cent of gross domestic product. Our country, with the same basics, has … about 47 per cent debt to GDP, which makes me happy, since we have room to invest and our financial situation is stable,"

Now I'm sure I read on here that the PTP government had raped the country, bled the treasury dry and stolen all the money from the flood management scheme fund. Surely all those posters can't have been wrong and that all along they were just "misrepresenting the truth" about the previous government?

Yes they where in the process of doing that and luckily they where stopped. We saw that with the rice fiasco. The fact that corruption increased under Yingluck's watch is no coincidence neither.

Oh, I see, that explains it then.

Is it the same kind of "in the process of doing that" phrase that is often used when accusing them of "being in the process of" establishing a dictatorship? The phrase that is based on personal opinion and supposition with no basis in reality? Just so as I know

Thanks for reminding us but it has little to do with the topic.

Removing checks and balances, trying to whitewash your own family members from their crimes, not agreeing with having governors elected, putting your friends and family members in charge and having red shirts targeting people and departments that don't obey to you, smells like establishing a dictatorship.

And I didn't even mention the famous Men In Black who are starting to be caught after Yingluck was removed. And the DSI saying that they have been a political tool doesn't help neither to say the least.

It's not just personal opinion fab4. These are all facts.

"Removing checks and balances, trying to whitewash your own family members from their crimes, not agreeing with having governors elected, putting your friends and family members in charge and having red shirts targeting people and departments that don't obey to you, smells like establishing a dictatorship. "

you are talking about the junta, the mad monk, abhisit? right?

...so i dont think their shirt are red.

[fab4]

"Public debt is still at a "manageable" level, the central government still has a large leftover budget from last year, and the Bt350-billion budget for local governments to invest that has yet to be disbursed because of the political turmoil can be used straight away...........

................Other countries such as some in Europe have limitations. They are facing a dead-end, since their budgets are at the limit and their public debt has exceeded 100 per cent of gross domestic product. Our country, with the same basics, has … about 47 per cent debt to GDP, which makes me happy, since we have room to invest and our financial situation is stable,"

Now I'm sure I read on here that the PTP government had raped the country, bled the treasury dry and stolen all the money from the flood management scheme fund. Surely all those posters can't have been wrong and that all along they were just "misrepresenting the truth" about the previous government?

Yes they where in the process of doing that and luckily they where stopped. We saw that with the rice fiasco. The fact that corruption increased under Yingluck's watch is no coincidence neither.

Oh, I see, that explains it then.

Is it the same kind of "in the process of doing that" phrase that is often used when accusing them of "being in the process of" establishing a dictatorship? The phrase that is based on personal opinion and supposition with no basis in reality? Just so as I know

Thanks for reminding us but it has little to do with the topic.

Removing checks and balances, trying to whitewash your own family members from their crimes, not agreeing with having governors elected, putting your friends and family members in charge and having red shirts targeting people and departments that don't obey to you, smells like establishing a dictatorship.

And I didn't even mention the famous Men In Black who are starting to be caught after Yingluck was removed. And the DSI saying that they have been a political tool doesn't help neither to say the least.

It's not just personal opinion fab4. These are all facts.

"Removing Checks and balances" The checks and balances were still in place as far as I remember. Wasn't the Amnesty Bill rejected by the Senate. Oh yes it was. Any kind of amendment to the Constitution was challenged by the Dems and ruled unconstitutional by the Constitution Court despite the government doing so in accord with the "rules" of the CC.

"Not agreeing with having governors elected"? What? Do you mean the election of the Bangkok Governor who was found guilty initially and then had this ruling overturned once the coup had taken place?

"Putting friends and family in charge"? This generally happens worldwide I think you'll find, wasn't aware it was illegal.

"Having Red shirts targeting people and departments that don't obey to you"? You believe that the PTP government actually did that? Oh well.

MIB - not enough real facts known (and No, you can't rely on the ramblings of the Police Chief) so of no relevance to an alleged "dictatorship"

DSI, a political tool - is that a suprise to you? The department wasn't used by the Dems as a political tool? It won't be used as a political tool by the Junta?

So, your "facts" do not add up to "being in the process of establishing a dictatorship", I'm afraid. Just a product of an over active imagination.

[oneday]

"...the central government still has a large leftover budget from last year, and the Bt350-billion budget for local governments to invest that has yet to be disbursed..."

I sure hope someone gets the proper controls and checks and balances in place before this money is disbursed or much of it will disappear into the pockets of corrupt officials.

[Ozziepat]

Government spending can stimulate the economy, but all too often the spending itself is viewed as doing that (GDP directly reflects the spending.) and governments get trapped into continued spending beyond an acceptable debt level in order to avoid [politically unpopular] economic downturns. Healthy, long-term stimulus comes from the EFFECTS of spending, if those effects for example include technological infrastructure improvements, related business expansion and jobs growth for a qualified Thai labor pool. All of this needs to occur within the context of a comprehensive vision for the future of Thailand.

[northernjohn]

"Public debt is still at a "manageable" level, the central government still has a large leftover budget from last year, and the Bt350-billion budget for local governments to invest that has yet to be disbursed because of the political turmoil can be used straight away...........

................Other countries such as some in Europe have limitations. They are facing a dead-end, since their budgets are at the limit and their public debt has exceeded 100 per cent of gross domestic product. Our country, with the same basics, has … about 47 per cent debt to GDP, which makes me happy, since we have room to invest and our financial situation is stable,"

Now I'm sure I read on here that the PTP government had raped the country, bled the treasury dry and stolen all the money from the flood management scheme fund. Surely all those posters can't have been wrong and that all along they were just "misrepresenting the truth" about the previous government?

Yes they where in the process of doing that and luckily they where stopped. We saw that with the rice fiasco. The fact that corruption increased under Yingluck's watch is no coincidence neither.

Oh, I see, that explains it then.

Is it the same kind of "in the process of doing that" phrase that is often used when accusing them of "being in the process of" establishing a dictatorship? The phrase that is based on personal opinion and supposition with no basis in reality? Just so as I know

Thanks for reminding us but it has little to do with the topic.

Removing checks and balances, trying to whitewash your own family members from their crimes, not agreeing with having governors elected, putting your friends and family members in charge and having red shirts targeting people and departments that don't obey to you, smells like establishing a dictatorship.

And I didn't even mention the famous Men In Black who are starting to be caught after Yingluck was removed. And the DSI saying that they have been a political tool doesn't help neither to say the least.

It's not just personal opinion fab4. These are all facts.

Well said.

One more fact filled post like that and he will have you on ignore.

To those of us who were here in 2010 and have continued to watch the manipulations of Thaksin it is pretty obvious that a dictatorship was the intention of Thaksin. In fact he wanted to set up a dictatorship that would continue after his death as it was going to be a family run thing similar to royalty in some countries. Kind of like a Shinawatra dynasty.

Now as far as the tax goes that is not my field but I do know a property tax would add greatly to the countries treasury and stop the building of empty buildings or partially completed ones. Chiang Mai is becoming an eye sore with all the semi completed buildings and empty ones.

[northernjohn]

Government spending can stimulate the economy, but all too often the spending itself is viewed as doing that (GDP directly reflects the spending.) and governments get trapped into continued spending beyond an acceptable debt level in order to avoid [politically unpopular] economic downturns. Healthy, long-term stimulus comes from the EFFECTS of spending, if those effects for example include technological infrastructure improvements, related business expansion and jobs growth for a qualified Thai labor pool. All of this needs to occur within the context of a comprehensive vision for the future of Thailand.

would you say that government spending to encourage innovation and development of Thai based discoveries would be a big help to the economy. Not right away but in the long run.

On the other hand continue with their no investment just copy system?

[Nickymaster]

Yes they where in the process of doing that and luckily they where stopped. We saw that with the rice fiasco. The fact that corruption increased under Yingluck's watch is no coincidence neither.

Oh, I see, that explains it then.

Is it the same kind of "in the process of doing that" phrase that is often used when accusing them of "being in the process of" establishing a dictatorship? The phrase that is based on personal opinion and supposition with no basis in reality? Just so as I know

Thanks for reminding us but it has little to do with the topic.

Removing checks and balances, trying to whitewash your own family members from their crimes, not agreeing with having governors elected, putting your friends and family members in charge and having red shirts targeting people and departments that don't obey to you, smells like establishing a dictatorship.

And I didn't even mention the famous Men In Black who are starting to be caught after Yingluck was removed. And the DSI saying that they have been a political tool doesn't help neither to say the least.

It's not just personal opinion fab4. These are all facts.

"Removing Checks and balances" The checks and balances were still in place as far as I remember. Wasn't the Amnesty Bill rejected by the Senate. Oh yes it was. Any kind of amendment to the Constitution was challenged by the Dems and ruled unconstitutional by the Constitution Court despite the government doing so in accord with the "rules" of the CC.

"Not agreeing with having governors elected"? What? Do you mean the election of the Bangkok Governor who was found guilty initially and then had this ruling overturned once the coup had taken place?

"Putting friends and family in charge"? This generally happens worldwide I think you'll find, wasn't aware it was illegal.

"Having Red shirts targeting people and departments that don't obey to you"? You believe that the PTP government actually did that? Oh well.

MIB - not enough real facts known (and No, you can't rely on the ramblings of the Police Chief) so of no relevance to an alleged "dictatorship"

DSI, a political tool - is that a suprise to you? The department wasn't used by the Dems as a political tool? It won't be used as a political tool by the Junta?

So, your "facts" do not add up to "being in the process of establishing a dictatorship", I'm afraid. Just a product of an over active imagination.

For guys like you facts will not proof that they were trying to establish a dictatorship. Obviously......

Edited September 16, 2014 by Nickymaster

[Nickymaster]

Yes they where in the process of doing that and luckily they where stopped. We saw that with the rice fiasco. The fact that corruption increased under Yingluck's watch is no coincidence neither.

Oh, I see, that explains it then.

Is it the same kind of "in the process of doing that" phrase that is often used when accusing them of "being in the process of" establishing a dictatorship? The phrase that is based on personal opinion and supposition with no basis in reality? Just so as I know

Thanks for reminding us but it has little to do with the topic.

Removing checks and balances, trying to whitewash your own family members from their crimes, not agreeing with having governors elected, putting your friends and family members in charge and having red shirts targeting people and departments that don't obey to you, smells like establishing a dictatorship.

And I didn't even mention the famous Men In Black who are starting to be caught after Yingluck was removed. And the DSI saying that they have been a political tool doesn't help neither to say the least.

It's not just personal opinion fab4. These are all facts.

"Removing checks and balances, trying to whitewash your own family members from their crimes, not agreeing with having governors elected, putting your friends and family members in charge and having red shirts targeting people and departments that don't obey to you, smells like establishing a dictatorship. "

you are talking about the junta, the mad monk, abhisit? right?

...so i dont think their shirt are red.

What a silly post. You obviously don't even know that PT tried to whitewash Thaksin. Or did you but you are trying to be smart?

Or are you adopting to fab4's strategy of playing dumb when confronted with facts?

[Thai at Heart]

"Public debt is still at a "manageable" level, the central government still has a large leftover budget from last year, and the Bt350-billion budget for local governments to invest that has yet to be disbursed because of the political turmoil can be used straight away...........

................Other countries such as some in Europe have limitations. They are facing a dead-end, since their budgets are at the limit and their public debt has exceeded 100 per cent of gross domestic product. Our country, with the same basics, has about 47 per cent debt to GDP, which makes me happy, since we have room to invest and our financial situation is stable,"

Now I'm sure I read on here that the PTP government had raped the country, bled the treasury dry and stolen all the money from the flood management scheme fund. Surely all those posters can't have been wrong and that all along they were just "misrepresenting the truth" about the previous government?

Yes they where in the process of doing that and luckily they where stopped. We saw that with the rice fiasco. The fact that corruption increased under Yingluck's watch is no coincidence neither.

Oh, I see, that explains it then.

Is it the same kind of "in the process of doing that" phrase that is often used when accusing them of "being in the process of" establishing a dictatorship? The phrase that is based on personal opinion and supposition with no basis in reality? Just so as I know

Indeed. They were at a point on the way to.taking thailand to oblivion like Greece.

It would have taken about 20 years. But hey. Nothing like nipping it in the bud early.

[fab4]

Thanks for reminding us but it has little to do with the topic.

Removing checks and balances, trying to whitewash your own family members from their crimes, not agreeing with having governors elected, putting your friends and family members in charge and having red shirts targeting people and departments that don't obey to you, smells like establishing a dictatorship.

And I didn't even mention the famous Men In Black who are starting to be caught after Yingluck was removed. And the DSI saying that they have been a political tool doesn't help neither to say the least.

It's not just personal opinion fab4. These are all facts.

Well said.

One more fact filled post like that and he will have you on ignore.

To those of us who were here in 2010 and have continued to watch the manipulations of Thaksin it is pretty obvious that a dictatorship was the intention of Thaksin. In fact he wanted to set up a dictatorship that would continue after his death as it was going to be a family run thing similar to royalty in some countries. Kind of like a Shinawatra dynasty.

Now as far as the tax goes that is not my field but I do know a property tax would add greatly to the countries treasury and stop the building of empty buildings or partially completed ones. Chiang Mai is becoming an eye sore with all the semi completed buildings and empty ones.

Either you didn't read my post #11 or you didn't understand it because I really can't see how you adjudge nickymasters' post to be "filled" with "facts"

[northernjohn]

Thanks for reminding us but it has little to do with the topic.

Removing checks and balances, trying to whitewash your own family members from their crimes, not agreeing with having governors elected, putting your friends and family members in charge and having red shirts targeting people and departments that don't obey to you, smells like establishing a dictatorship.

And I didn't even mention the famous Men In Black who are starting to be caught after Yingluck was removed. And the DSI saying that they have been a political tool doesn't help neither to say the least.

It's not just personal opinion fab4. These are all facts.

Well said.

One more fact filled post like that and he will have you on ignore.

To those of us who were here in 2010 and have continued to watch the manipulations of Thaksin it is pretty obvious that a dictatorship was the intention of Thaksin. In fact he wanted to set up a dictatorship that would continue after his death as it was going to be a family run thing similar to royalty in some countries. Kind of like a Shinawatra dynasty.

Now as far as the tax goes that is not my field but I do know a property tax would add greatly to the countries treasury and stop the building of empty buildings or partially completed ones. Chiang Mai is becoming an eye sore with all the semi completed buildings and empty ones.

Either you didn't read my post #11 or you didn't understand it because I really can't see how you adjudge nickymasters' post to be "filled" with "facts"

I read your post and I read the fact filled post of nickymaster's. Did you read my fact filled post.

A fact is some thing that is no matter what some one says about it.

When applied to some thing else it may not be true. It is also a complete statement not some thing taken out of context and added in some where else.

Now what is your definition. I have given you mine.

[gemini81]

"Public debt is still at a "manageable" level, the central government still has a large leftover budget from last year, and the Bt350-billion budget for local governments to invest that has yet to be disbursed because of the political turmoil can be used straight away...........

................Other countries such as some in Europe have limitations. They are facing a dead-end, since their budgets are at the limit and their public debt has exceeded 100 per cent of gross domestic product. Our country, with the same basics, has … about 47 per cent debt to GDP, which makes me happy, since we have room to invest and our financial situation is stable,"

Now I'm sure I read on here that the PTP government had raped the country, bled the treasury dry and stolen all the money from the flood management scheme fund. Surely all those posters can't have been wrong and that all along they were just "misrepresenting the truth" about the previous government?

Yes, congratulations to their mega level graft and fiefdom and massive failure, in a shorter time than others before them. Award winning most failed programs too.

[SaintLouisBlues]

"Public debt is still at a "manageable" level, the central government still has a large leftover budget from last year, and the Bt350-billion budget for local governments to invest that has yet to be disbursed because of the political turmoil can be used straight away...........

................Other countries such as some in Europe have limitations. They are facing a dead-end, since their budgets are at the limit and their public debt has exceeded 100 per cent of gross domestic product. Our country, with the same basics, has … about 47 per cent debt to GDP, which makes me happy, since we have room to invest and our financial situation is stable,"

Now I'm sure I read on here that the PTP government had raped the country, bled the treasury dry and stolen all the money from the flood management scheme fund. Surely all those posters can't have been wrong and that all along they were just "misrepresenting the truth" about the previous government?

Yes they where in the process of doing that and luckily they where stopped. We saw that with the rice fiasco. The fact that corruption increased under Yingluck's watch is no coincidence neither.

"The fact that reported corruption increased under Yingluck's watch is no coincidence". After all, if your political enemies keep on mentioning it, people are going to hear more about. Whether there was actually more of it is another matter altogether, and I doubt we will ever know.

[gemini81]

"Public debt is still at a "manageable" level, the central government still has a large leftover budget from last year, and the Bt350-billion budget for local governments to invest that has yet to be disbursed because of the political turmoil can be used straight away...........

................Other countries such as some in Europe have limitations. They are facing a dead-end, since their budgets are at the limit and their public debt has exceeded 100 per cent of gross domestic product. Our country, with the same basics, has … about 47 per cent debt to GDP, which makes me happy, since we have room to invest and our financial situation is stable,"

Now I'm sure I read on here that the PTP government had raped the country, bled the treasury dry and stolen all the money from the flood management scheme fund. Surely all those posters can't have been wrong and that all along they were just "misrepresenting the truth" about the previous government?

Yes they where in the process of doing that and luckily they where stopped. We saw that with the rice fiasco. The fact that corruption increased under Yingluck's watch is no coincidence neither.

"The fact that reported corruption increased under Yingluck's watch is no coincidence". After all, if your political enemies keep on mentioning it, people are going to hear more about. Whether there was actually more of it is another matter altogether, and I doubt we will ever know.

Yeah, what a mystery...the rice scheme....such elusive work they did there no great detective would ever uncover anything..

[Nickymaster]

"Public debt is still at a "manageable" level, the central government still has a large leftover budget from last year, and the Bt350-billion budget for local governments to invest that has yet to be disbursed because of the political turmoil can be used straight away...........

................Other countries such as some in Europe have limitations. They are facing a dead-end, since their budgets are at the limit and their public debt has exceeded 100 per cent of gross domestic product. Our country, with the same basics, has … about 47 per cent debt to GDP, which makes me happy, since we have room to invest and our financial situation is stable,"

Now I'm sure I read on here that the PTP government had raped the country, bled the treasury dry and stolen all the money from the flood management scheme fund. Surely all those posters can't have been wrong and that all along they were just "misrepresenting the truth" about the previous government?

Yes they where in the process of doing that and luckily they where stopped. We saw that with the rice fiasco. The fact that corruption increased under Yingluck's watch is no coincidence neither.

"The fact that reported corruption increased under Yingluck's watch is no coincidence". After all, if your political enemies keep on mentioning it, people are going to hear more about. Whether there was actually more of it is another matter altogether, and I doubt we will ever know.

http://www.transparency.org/cpi2013/results

[rickirs]

"I am a straightforward person. I believe that it would be a blessing if the economy could grow by 2 per cent this year, ..."

If the Democrats/PDRC/Junta hadn't disrupted and overthrown the government over an eight-month period, the economy was predicted to grow by 4-5% for 2014 with 5% easily predictable for 2015. But now it's a blessing for 2%? Meanwhile the military will get a 4-5% budget increase - now that's a blessing!

The new 2015 budget (@ Bt. 2,553 billion after NLA insignificant cuts) calls for only a 1% increase from Yingluck's proposed 2014 budget (@ Bt.2,525 billion) that also included 13.423 billion baht as payment for the national reserves, international reserves of 178 billion USD, and debt service on Bt.251 billion (included loans for water resources management and infrastructure development. The new government priorities for economic recovery look similar to Yingluck's own

Thus far, there has been no public (NLA not considered as "public") disclosure of the new debt nor indications of any national and international reserves, or new debt service in the 2015 budget. But the NCPO has been active in government borrowing prior to its budget submittal (not allowed under the 2007 Constitution) and, given its absolute power, can at any time in the future increase public debt without approval or accountability for any purpose, presuming its absolute power over the NLA.

I too am a straightforward person when it comes to numbers and not to faith. And I believe that with only a slight increase in the budget for 2015 there will be insufficient investment for domestic development beyond what was planned by the Yingluck administration, and with increasing government and household debt, 3+% inflation is likely. Given the precarious economics of the State for 2015 it is vital that government expenditures be monitored closely for transparency and accountability, that the Junta resist unilateral "happiness" budgetary policies, and that monetary policy changes be made swiftly if and when inflation starts to increase beyond 2%.

[See the bears]

http://www.asianewsnet.net/Thai-juntas-slashing-of-funds-to-rural-areas-raise-63764.html

[SaintLouisBlues]

Yes they where in the process of doing that and luckily they where stopped. We saw that with the rice fiasco. The fact that corruption increased under Yingluck's watch is no coincidence neither.

"The fact that reported corruption increased under Yingluck's watch is no coincidence". After all, if your political enemies keep on mentioning it, people are going to hear more about. Whether there was actually more of it is another matter altogether, and I doubt we will ever know.

http://www.transparency.org/cpi2013/results

Quite - it's headlined the "CORRUPTION PERCEPTIONS INDEX 2013"