Government suffers budget deficit in six-month time

BANGKOK: The Ministry of Finance yesterday released a statistics for the first six months of the 2016 budget showing the country's expenditures have exceeded revenues by 500 billion baht.

It said the budget deficit was recorded from October last year till end of March this year.

It said during the period, the government could generate around 1.05 trillion baht in revenues.

However the government spendings also rose to 1.57 trillion baht.

It said budget disbursements accounted for more than 1.5 trillion baht which is higher than for the same period last year as the government was eager to speed up injection of funds into critically needed economic stimulus packages.

Source: http://englishnews.thaipbs.or.th/content/161681

-- Thai PBS 2016-04-30

Good timing for the referendum! THB 500 billion deficit, How much % of annual gdp is that?

Good timing for the referendum! THB 500 billion deficit, How much % of annual gdp is that?

Around 3.7% of annual 2015 gdp

Ministry of finance statistics.

Any independent statistics? Bet it's more than 500 billion baht.

Edited April 30, 201610 yr by tukkytuktuk

Must be foreigners to blame surely

I hope they are accounting for the drought, that will cost them a great deal.

Solution to problem.

http://www.samuitimes.com/marijuana-street-value-500-million-baht-seized/

The Pathum Thani police raided a warehouse in Lam Luk Ka District yesterday where they found approximately 5 tons of marijuana worth approximately 500 million baht, the weed was destined to be smuggled out to the Netherlands.

Let them smuggle it out, grab the cash, pay off the treasury.

I hope they are accounting for the drought, that will cost them a great deal.

UTCC's forecasting center: Drought situation could probably pull GDP down by 0.85%

The drought almost negates the government's third economic stimulus package which could possibly raise the national GDP by at least 0.9 – 1.1%.

By the time the military returns the government to elected officials, the Treasury will be running on fumes.

They won't have funds to create or expand political initiatives that put them in office.

Mission accomplished.

So where did the money go,its the same with Governments throughout the

World,spend more than you earn,but tell the man on the street,to tighten

our belts.

regards Worgeordie