webfact Posted January 12, 2017 Share Posted January 12, 2017 Government approves deficit budget for 2017 fiscal year BANGKOK: -- The Thai economy this year is expected to grow 3.8 percent with 2 percent inflation rate and export to expand 7 percent compared to last year whereas global price for Dubai crude will hover at US$ 55 per barrel and exchange rate for baht currency averages 36 baht per US dollar, said Deputy Prime Minister Somkid Jatusripitak on Thursday. He, however, said that global economy remains fragile although economy has somewhat recovered. He noted that deficit budget is still necessary as the country’s expenditure budget this fiscal year is estimated at 2.9 trillion baht with 450 billion baht in deficit. Revenue is expected to total 2.45 trillion baht, but deficit budget will boost government sector’s investments by 23 percent. Public debt this year accounts for 45 percent of GDP which is within the 60 percent ceiling vis-à-vis GDP, said the deputy prime minister. Full story: http://englishnews.thaipbs.or.th/government-approves-deficit-budget-2017-fiscal-year/ -- © Copyright Thai PBS 2017-01-13 Link to comment Share on other sites More sharing options...
Srikcir Posted January 13, 2017 Share Posted January 13, 2017 3 hours ago, webfact said: Government approves deficit budget for 2017 fiscal year Confusing.... Maybe it's the budget for 2018 fiscal year which covers the period October 1, 2017-September 31, 2018 that was approved? And by "Government" means the PM Cabinet and not the NLA? Approval for funding comes from the NLA, albeit a junta-rubberstamp legislature. The Executive branch (PM and Cabinet) of Government is responsible to submit a budget to the NLA and cannot itself approve the funding. In September 2016 the NLA unanimously passed final reading of the 2017 fiscal year budget (October 1, 2016 - September 31, 2017) for 2.73 trillion baht with a deficit 390 billion baht. The NLA made no reduction to Prayut's submitted total funding request for the 2017 fiscal year. If indeed the "government" has approved higher funding and debt in the FY 2017 budget, then the previously NLA approved FY 2017 budget would have been amended after just three months into the 2017 fiscal year! But for the record there has been no report of NLA's three readings and vote to approve such an amendment. That means that NLA has essentially been bypassed (albeit no great loss to any check & balance) and Prayut as Head of Government has unilaterally altered the FY 2017 budget. Link to comment Share on other sites More sharing options...
Happyman58 Posted January 13, 2017 Share Posted January 13, 2017 Ah dont matter you dont need to work in Thailand My wife has a resturant looking for staff in Ubonratchathani We have hung the sign up and guess what Nobody applies Everyone in Ubon must have a job i take it so the economy must be so strong Then again when you see people looking through rubbish bins at night makes you wonder. Link to comment Share on other sites More sharing options...
tomacht8 Posted January 13, 2017 Share Posted January 13, 2017 Country’s expenditure budget this fiscal year is estimated at 2.9 trillion baht... Wonder where all the money remains and seeps away. Link to comment Share on other sites More sharing options...
worgeordie Posted January 13, 2017 Share Posted January 13, 2017 Most Governments in the World seem to run deficit budgets, which does not present a good image for their populations, who think been in debt is OK,been frugal and living within one's means,seems ,today, to be an alien concept. regards Worgeordie Link to comment Share on other sites More sharing options...
elgordo38 Posted January 13, 2017 Share Posted January 13, 2017 8 hours ago, webfact said: BANGKOK: -- The Thai economy this year is expected to grow 3.8 percent with 2 percent inflation rate and export to expand 7 percent compared to last year whereas global price for Dubai crude will hover at US$ 55 per barrel and exchange rate for baht currency averages 36 baht per US dollar, said Deputy Prime Minister Somkid Jatusripitak on Thursday. This guy has been eating to many fortune cookies. Link to comment Share on other sites More sharing options...
elgordo38 Posted January 13, 2017 Share Posted January 13, 2017 As there have been so many calamities striking over the last year lets hope the budget has some emergency fund planning and I do not mean buying a truck load of band aids. Link to comment Share on other sites More sharing options...
elgordo38 Posted January 13, 2017 Share Posted January 13, 2017 3 hours ago, Happyman58 said: when you see people looking through rubbish bins at night makes you wonder. You should change your sign to read "Night workers wanted" Link to comment Share on other sites More sharing options...
Happyman58 Posted January 13, 2017 Share Posted January 13, 2017 Nah we are starting to believe the most hated 4 letter word in Thailand is WORK In one month no applications government should be smiling everyone has a job in ubon Link to comment Share on other sites More sharing options...
PeeJay1959 Posted January 13, 2017 Share Posted January 13, 2017 10 hours ago, worgeordie said: Most Governments in the World seem to run deficit budgets, which does not present a good image for their populations, who think been in debt is OK,been frugal and living within one's means,seems ,today, to be an alien concept. regards Worgeordie They use it to justify their austerity measures then give all the money to rich, t least that is what they are doing in the UK!! Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now