Education, defence top budget

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Education, defence top budget
By THE NATION

 

 

Govt’s 2018 outlays not a bid to prolong military’s grip on power, Prayut insists.

 

BANGKOK: -- THE government’s Bt2.9-trillion budget for 2018 has massive spending of Bt575 billion for upgrading workers’ skills and education, plus related activities, while the Defence Ministry’s budget rises Bt8.8 billion to Bt222 billion.

 

Under the 2018 Budget Bill, passed in its first reading by the National Legislative Assembly yesterday, money allocated for tackling unrest in the country’s deep South also continued to rise to a total of about Bt13 billion. Meanwhile, the Navy is expected to get extra money to pay for its first Chinese-made submarine, worth Bt13.5 billion over a period of seven years.

 

The controversial submarine acquisition programme is estimated to be worth a total of Bt36 billion for three vessels to be delivered over a decade.

 

Besides human resource development and related activities, the budget for the 2018 fiscal year, starting on October 1, includes huge spending of Bt476 billion for national competitiveness and related schemes, while poverty reduction programmes and related expenditure will get Bt332 billion.

 

Bt273 billion is earmarked for security and related activities, while water resources, environmental protection and related spending will amount to Bt125 billion.

 

Prime Minister Prayut Chan-o-cha said the budget was not formulated to prolong the military’s grip on power but it would allow the implementing of the national reform agenda. 

 

That includes reducing social injustice and economic inequality as the economy is projected to grow 3.3 to 4.3 per cent in 2018.

 

Revenue collection is projected to total Bt2.45 trillion, resulting in a budget deficit of Bt450 billion. That means the government will have to borrow funds to cover the shortfall.

 

There are also plans to increase tax revenue, including the introduction of a new land and building tax, which is being considered by the NLA. 

 

Earlier, the government also floated the idea of hiking the value-added tax rate from the current 7 per cent, but opponents said the timing was not suitable as the country’s economic growth rate is not yet favourable.

 

Overall, the Bt2.9-trillion budget bill for fiscal 2018 is relatively modest, including fixed expenditure of Bt2.15 trillion, investment projects worth Bt650 billion and public debt repayment of Bt86.9 billion. According to the premier, treasury reserves amounted to Bt182 billion as of May 26 this |year.

 

He said the budget for national security included spending on protecting key national institutions, national and political reconciliation, and solving prolonged insurgency problems in the far South. 

 

Another key strategy is to increase competitiveness in manufacturing and industrial areas with a focus on helping small and medium enterprises and developing special economic zones.

 

The government will spend the most resources in education, healthcare, people’s skill development and related activities. 

 

To reduce income inequality, the government will also spend significantly to boost the grassroots and rural economy, while providing welfare to people whose income is below the poverty line. In addition, Bt125 billion is earmarked for environmental protection, water resources management and related activities.

 

Source: http://www.nationmultimedia.com/news/national/30317580

 

-- © Copyright The Nation 2017-06-09

[Thechook]

The military topping up their coffers.  Do the General's still keep this money under the bed soley for safe keeping?

[wakeupplease]

Defense against who? internal they have the pop s>>> scared external well lets say it would be a walkover

[kannot]

to sum  up,  do what  we  say  or  we'll shoot you

[yellowboat]

Military spending makes little sense as Thailand has only been involved in some minor border squabbles with Cambodia, and some fishing issues with Vietnam.  They are more likely going to make their neighbors arm themselves, creating uncalled for escalation.     

[YetAnother]

just be done with it and put all the money in defense; thailand has many enemies; unfortunately no one can locate  nor identify them

[LazySlipper]

Seems to me, not too long ago, that there was an article in which the gvt shared how much was left in their coffres. Unfortunately I don't remember its title, but if memory serves me well the numbers cited here will push the gvt into its US greenback reserves... 

 

All I hope is that this helps bring down the baht. As many here I am losing a tonne on the current exchange rate. I guess The PM is keeping the Bht up until he finishes he spending spree in military hardware toys...

[Ricardo]

It's important not to confuse the governments' own finances, with the Bank of Thailand's official reserves.

 

IIRC Thai governments have been running deficits for some time now, whilst the BoT reserves are very healthy ?

[robblok]

1 hour ago, yellowboat said:

Military spending makes little sense as Thailand has only been involved in some minor border squabbles with Cambodia, and some fishing issues with Vietnam.  They are more likely going to make their neighbors arm themselves, creating uncalled for escalation.     

There was an article recently about this, Thailand is just responding to increases in military budget all around. (not that I agree). But the fact is others are increasing their budget Thailand is just following. 

[robblok]

1 hour ago, LazySlipper said:

Seems to me, not too long ago, that there was an article in which the gvt shared how much was left in their coffres. Unfortunately I don't remember its title, but if memory serves me well the numbers cited here will push the gvt into its US greenback reserves... 

 

All I hope is that this helps bring down the baht. As many here I am losing a tonne on the current exchange rate. I guess The PM is keeping the Bht up until he finishes he spending spree in military hardware toys...

You really don't follow the news do you ? He is trying to keep the Bht down, its a major problem for the export. The BOT is trying to keep the Bht down, its just that the U$ is not doing as well because of Thrump. 

[robblok]

Seems they have a 3,3% deficit (found the Thai GDP in u$ in 2017 and calculated it myself but it depends on what $ you take so it could be a small bit off). 3,3% is not too bad the UK has a 2,6% deficits the Dutch 0,3% the US 2,6% so not bad at all. If we take the total debt in a percentage of the GDP Thailand is looking much better still.

 

Thailand 41% UK 89% Dutch 61,9% USA 104,7% so looks like Thailand is not doing too bad. 

 

 

[Chris Lawrence]

Where is the money for "superfoods" the General promised?

 

On a Province by Province basis who gets what?

 

I see figures but they don't talk about major programs? Except the subs.

[Bob12345]

There was an article recently about this, Thailand is just responding to increases in military budget all around. (not that I agree). But the fact is others are increasing their budget Thailand is just following. 

Somchai used the same excuse to buy a new pickup truck. His wife pointed out that they had no money and their wages had barely increased in the past few years but since the neighbors all had a new pickup Somchai needed a new one also.

Of course he picked the Toyota TRD with all the available options.

[robblok]

3 minutes ago, Bob12345 said:

Somchai used the same excuse to buy a new pickup truck. His wife pointed out that they had no money and their wages had barely increased in the past few years but since the neighbors all had a new pickup Somchai needed a new one also.

Of course he picked the Toyota TRD with all the available options.

Its a little bit different between countries and arms spending, but I don't agree with the increase. Better to make things more efficient and professional. 

[LazySlipper]

On 6/9/2017 at 9:03 AM, robblok said:

You really don't follow the news do you ? He is trying to keep the Bht down, its a major problem for the export. The BOT is trying to keep the Bht down, its just that the U$ is not doing as well because of Thrump. 

I think maybe the shoe is on the other foot. Not more than a year ago the exporters of Thailand were lobbying Prayut to reduce the bht. I got this from this very website. So if you are interested look it up. For the last 6 years more or less... the bht has been inflated. If a Gvt wants to reduce its currency value it is only a question of playing with interest rates as most western countries do.

[robblok]

1 hour ago, LazySlipper said:

I think maybe the shoe is on the other foot. Not more than a year ago the exporters of Thailand were lobbying Prayut to reduce the bht. I got this from this very website. So if you are interested look it up. For the last 6 years more or less... the bht has been inflated. If a Gvt wants to reduce its currency value it is only a question of playing with interest rates as most western countries do.

The last few weeks it has been in the news that Prayut wants the bth down. But they are unwilling to play with the interest rate. The Bth is not inflated and not propped up by the government. In fact it is trying to keep cash out so it wont increase the value op the Bth. 

[LazySlipper]

31 minutes ago, robblok said:

The last few weeks it has been in the news that Prayut wants the bth down. But they are unwilling to play with the interest rate. The Bth is not inflated and not propped up by the government. In fact it is trying to keep cash out so it wont increase the value op the Bth. 

Last few weeks... this has been going on for almost 6+ years now. 

 

So if they are unwilling to play with the interest rate doesn't that reveal their true agenda????

 

Sounds like lip service from the PM and his cabinet to get business off his back...