Public debts amount to 42.73 percent of GDP

[snoop1130]

Public debts amount to 42.73 percent of GDP

 

 

Public debts at the end of 2016 budgetary year or September amounted to 6.9 trillion baht, representing 42.73 percent of the GDP, including about 400 billion baht in debts incurred by the Yingluck government’s rice pledging scheme.

 

Mr Thirat Attanawanich, deputy director of the Public Debts Management Office, said, however, that the public debts were lower than the projection of 44 percent of the GDP. He attributed the reduction in public debts to the adjustment of debt repayment of the FIDF which has helped in the improvement of the efficiency in debt management coupled with the improved performance of some state enterprise resulting in the lowering of 70 billion baht in public debts.

 

Despite the 40 billion baht in revenue in rice sale, Mr Thirat noted that debts incurred by the rice pledging scheme remain at 420 billion bhat, representing 6.7 percent of public debts.

 

Full Story: http://englishnews.thaipbs.or.th/public-debts-amount-to-42-73-percent-of-gdp/

 

-- © Copyright Thai PBS 2016-11-21

[Eric Loh]

I am positive some Shin haters were talking about the rice pledging scheme bankrupting the country. I hope this put the matter to bed. Debt to GDP at 42.73% is still relatively low and the rice scheme only represent a mere 6.7% of the public debt. 

[sweatalot]

17 minutes ago, Eric Loh said:

I am positive some Shin haters were talking about the rice pledging scheme bankrupting the country. I hope this put the matter to bed. Debt to GDP at 42.73% is still relatively low and the rice scheme only represent a mere 6.7% of the public debt. 

 

That's bad enough isn't it?

 

Youi need not be a "Shin hater" to understand that they caused big damage to the country

[sjaak327]

1 hour ago, sweatalot said:

 

That's bad enough isn't it?

 

Youi need not be a "Shin hater" to understand that they caused big damage to the country

 

As opposed to the current lot ?

Edited November 21, 2016 by sjaak327

[sweatalot]

1 hour ago, sjaak327 said:

 

As opposed to the current lot ?

Yes, the current government is much better.

[sjaak327]

1 minute ago, sweatalot said:

Yes, the current government is much better.

 

No it is not, it ran a huge deficit in the first six months (over 500 billion baht). The economy isn't doing all that well.

 

Of course history has always shown militairy governments running a country to be disastrous for many things, including the economy. Now let's not talk about other stuff, such as limiting freedom of speech, assembly and some other basic human rights. To state the current government is much better is again a lie. You continue to lie, but don't want to be called a liar !

[Srikcir]

15 hours ago, snoop1130 said:

representing 42.73 percent of the GDP

Resorting to published annual economic data for public (government) debt vs GDP shows some interesting comparisons:

 

 

 

 

 

[bark]

14 hours ago, Eric Loh said:

I am positive some Shin haters were talking about the rice pledging scheme bankrupting the country. I hope this put the matter to bed. Debt to GDP at 42.73% is still relatively low and the rice scheme only represent a mere 6.7% of the public debt. 

Oh, great news. Then it is OK, that 400 is gone !

[Srikcir]

2 minutes ago, bark said:

Oh, great news. Then it is OK, that 400 is gone !

In a manner of speaking -yes.

It's gone to the rice farmers as arranged by the junta to pay for their pledged rice at 2x + market value. That's a massive rice subsidy.

[bark]

3 minutes ago, Srikcir said:

In a manner of speaking -yes.

It's gone to the rice farmers as arranged by the junta to pay for their pledged rice at 2x + market value. That's a massive rice subsidy.

Do you really believe that the farmers will get 2 times market value ?

Like the last government. Rice will come in from Cambodia and Laos. It will not go to the farmers.

 

 

[lucky11]

41 minutes ago, Srikcir said:

Resorting to published annual economic data for public (government) debt vs GDP shows some interesting comparisons:

 

 

 

 

 

 

 If you took the mounted Shin debts out the debt to GDP value it (36%) it wouldn't even register on this graph

[Eric Loh]

10 minutes ago, bark said:

Oh, great news. Then it is OK, that 400 is gone !

 

Yes gone to the wider economy and the subsequent multiplier fiscal benefits conveniently ignored by the junta government. I am sure it will be more than 400 and went directly and indirectly to government revenues.    

[connda]

Compared to the US and Japan, with Debt to GDP at 42.73% the Thai government is rock solid.

[Srikcir]

6 minutes ago, bark said:

Do you really believe that the farmers will get 2 times market value ?

Like the last government. Rice will come in from Cambodia and Laos. It will not go to the farmers.

 

 

that 400 is gone

Your response to Eric Loh I am positive some Shin haters were talking about the rice pledging scheme bankrupting the country.

 

The junta paid the farmers (400--500 billion baht) for their pledged rice created by the Yingluck regime according to the price pledged by Yingluck (2x+ then market price) and regardless of whether it would be sold or not. That rice was stored in government and private warehouses rented by the government. I don't get your connection with rice coming from Cambodia and Laos. Are  you on another topic?

[optad]

43 % public debt.

 

The health system notwithstanding, this was achieved without any real welfare, or pension system. 

 

 

 

 

[bark]

11 minutes ago, connda said:

Compared to the US and Japan, with Debt to GDP at 42.73% the Thai government is rock solid.

US and Japan, just keep printing money. They have nothing to back it.

One day the truth will come out that US is really bankrupt and has been for about 10 years.

[Eric Loh]

16 minutes ago, connda said:

Compared to the US and Japan, with Debt to GDP at 42.73% the Thai government is rock solid.

 

Expect the debt to GDP to rise for next few years when massive amount of borrowings and investments kick in for the infrastructure projects. An estimate of at least 300-400 B USD a year will be needed and expect the debt to increase to mid-50. Still within the Ministry Finance 60% sustainable framework. 

[Srikcir]

26 minutes ago, bark said:

US and Japan, just keep printing money. They have nothing to back it.

One day the truth will come out that US is really bankrupt and has been for about 10 years.

How's this for truth in terms of economic strength?

https://knoema.com/nwnfkne/world-gdp-ranking-2016-data-and-charts-forecast

 

 

[bark]

5 minutes ago, Srikcir said:

How's this for truth in terms of economic strength?

https://knoema.com/nwnfkne/world-gdp-ranking-2016-data-and-charts-forecast

 

 

Then i guess they can pay back the 19 Trillion that they owe ? If all the debtors in the world, called their loans; the States

would have to sale off, Alaska, California, Oregon, Texas, New York and maybe Ohio, to pay people. 

[Eric Loh]

1 hour ago, bark said:

Then i guess they can pay back the 19 Trillion that they owe ? If all the debtors in the world, called their loans; the States

would have to sale off, Alaska, California, Oregon, Texas, New York and maybe Ohio, to pay people. 

 

USA do not have problem selling their debts and they are willing buyers who have confidence that they will get paid. 

 

[elgordo38]

19 hours ago, snoop1130 said:

representing 42.73 percent of the GDP, including about 400 billion baht in debts incurred by the Yingluck government’s rice pledging scheme.

Should soften the blow a bit. Kind of tying the can to YL's beautiful tail. I also notice that the debt came in under government projections. Boy it sure makes them look good then of course its the government playing with their own numbers. I to can do that just turn 96 into 69 hmm one of my favorite numbers. 

[Srikcir]

1 hour ago, bark said:

Then i guess they can pay back the 19 Trillion that they owe ? If all the debtors in the world, called their loans

The 19 trillion USD debt is backed by treasury bonds. So long as the bond obligations are met, the entire debt is not required to be paid back all at one time. The bond is like a house mortgage and has first priority to US budget funds under the constitution to be paid. Meet your mortgage payments and your debt is secure. So long as the US (or any country for that matter that sells treasury bonds like Thailand) meets its debt obligations, bondholders (ie., American citizens, US corporations, China, Russia, etc.) cannot call the outstanding principal due before the expiration of the bond period.

 

The US had a net worth of at least $123.8 trillion as of Q1 2014, so the bonds are very secure. 

https://en.wikipedia.org/wiki/Financial_position_of_the_United_States

 

Edited November 22, 2016 by Srikcir
spelling

[bark]

3 hours ago, Eric Loh said:

 

USA do not have problem selling their debts and they are willing buyers who have confidence that they will get paid. 

 

The states I mentioned are assets. It will make the drive across your country if all the western states and a few in the

East are Part of China. Good Luck.

[chiang mai]

2 hours ago, Srikcir said:

The 19 trillion USD debt is backed by treasury bonds. So long as the bond obligations are met, the entire debt is not required to be paid back all at one time. The bond is like a house mortgage and has first priority to US budget funds under the constitution to be paid. Meet your mortgage payments and your debt is secure. So long as the US (or any country for that matter that sells treasury bonds like Thailand) meets its debt obligations, bondholders (ie., American citizens, US corporations, China, Russia, etc.) cannot call the outstanding principal due before the expiration of the bond period.

 

The US had a net worth of at least $123.8 trillion as of Q1 2014, so the bonds are very secure. 

https://en.wikipedia.org/wiki/Financial_position_of_the_United_States

 

The fact that the debt is easy to sell doesn't make its existence any more acceptable and it's comparison against another less indebted country any more agreeable!