Cabinet Approves Bt498.56 Bn '07 State Enterprises Budget

Cabinet approves Bt498.56 bn '07 state enterprises budget

Cabinet Tuesday approved a public enterprises budget of B498.56 billion for the 2007 fiscal year starting October 1, said the state think-tank National Economic & Social Development Board.

Of the total, Bt369.30 billion, or 4.4 per cent of the Thailand's gross domestic product (GDP), has been allocated for investment, with .the remainder to be used for operations, according to NESDB Secretary General Ampon Kittiampon.

Investment projects by public enterprises next fiscal year include aircraft procurement by Thai Airways Plc, mass transit, water supply improvement projects, and housing for low-income earners, Ampon added.

Some Bt46.4 billion of the public enterprises' investment for fiscal 2007 will be financed by the government's budget while the rest will be funded by loans and earnings from their operations, Ampon said.

The government has not yet finalise its overall expenditure plan for the coming fiscal year. The initial draft budget for fiscal 2007 of Bt1.476 trillion would lead to a budget deficit of Bt76 billion, or around 1 per cent of GDP.

http://nationmultimedia.com/breakingnews/r...newsid=30013421

Lots of chances for graft there! I thought a caretaker government couldn't approve budgets this large, it's a huge sum of money.

Interesting that the deficit is almost the same as Thaksin Bt73 billion tax dodge. Which amounts to 1% of GDP!!!