Somkid hints at another budget deficit in fiscal 2017

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Somkid hints at another budget deficit in fiscal 2017
Erich Parpart
The Nation

BANGKOK: -- The deputy prime minister in charge of economic affairs, Somkid Jatusripitak, has hinted that the 2017 fiscal budget will continue the deficit trend, in order to support the need for government investment in infrastructure and increase the country's competitiveness.

"I believe that under the current economic situation and current financial status, a budget deficit is not a problem because our public debt is very low but our principle is to avoid creating any unnecessary debt," he told reporters at the Revenue Department Thursday.

The 2016 fiscal year has a Bt2.72-trillion budget, with a deficit of Bt390 billion on expected revenue of around Bt2.33 trillion.

The investment budget through to September 30 next year was set at Bt543.635 billion, which is Bt94.16 billion or 20.9 per cent more than for the 2015 fiscal year. Fiscal 2015 carried around Bt250 billion worth of deficit.

"Nevertheless, if we want our economy to be strong enough, and the country is currently developing, then it [a budget deficit] is sometimes necessary," said Somkid.

Source: http://www.nationmultimedia.com/breakingnews/Somkid-hints-at-another-budget-deficit-in-fiscal-2-30272331.html


-- The Nation 2015-11-05

[phoenixdoglover]

This actually makes sense.

[Krataiboy]

This actually makes sense.

Explain, if you can, please.

[elgordo38]

Just amazing how they have all the answers. A great follow up to the consumer confidence level being high. I understand that their piggy bank is full of US currency I sincerely hope the greenback does do a tumble. The US just raised the debt ceiling to 20 TRILLION dollars. Hey Obama your good to go till March of 2017 to write all the funny money checks you want to before you run into the next financial brick wall. Oh I forgot that will be the next presidents headache and it will be a big one. Is this when the chickens come home to roost? Its not really real money anymore is it? I am loosing my perspective. Maybe a good game of Monopoly will straighten me out.