Budget Bureau expects lower 2017 deficit than in fiscal 2016

BANGKOK: THE 2017 fiscal budget deficit is expected to be lower than fiscal 2016's Bt390 billion as the government is expected to collect more revenue, such as income from the auctions of 4G telecom licences, the Budget Bureau says.

Meanwhile, the public-private partnership scheme and the ongoing reforms in budget allocation are expected to help lower the government's investment costs in 2016.

The bureau is confident that revenue collections for fiscal 2016, which are estimated at around Bt2.33 trillion, will meet expectations. The budget for fiscal 2016, which began last month, was set at Bt2.72 trillion.

"The estimated income for fiscal 2016 is pretty high," Budget Bureau director Somsak Chotrattanasiri told reporters after a permanent secretaries' meeting with Prime Minister Prayut Chan-o-cha at the bureau Friday.

Source: http://www.nationmultimedia.com/breakingnews/Budget-Bureau-expects-lower-2017-deficit-than-in-f-30273858.html

-- The Nation 2015-11-27

I expect 2017 will be another disappointing year for the fortune tellers, lucky number predictors and the black magicians.

It should be lower next year since the military wont be spending 180bn on new submarines again for a while.

THE 2017 fiscal budget deficit is expected to be lower than fiscal 2016's Bt390 billion as the government is expected to collect more revenue, such as income from the auctions of 4G telecom licences

The government is already collecting income from the 4G licenses during its fiscal year 2016 (ending Sept. 31, 2016), so how does that help 2017 budget? Lower tax collections, expanded tax incentives, delayed oil & gas concessions and more off-budget military expenditures will quickly consume this perceived budget bonus before 2017 "sees the economic light of day.".