webfact Posted September 18, 2019 Share Posted September 18, 2019 Govt reaches Bt349 bn fiscal deficit for 11 months By The Nation The government has accumulated a Bt348.97 billion fiscal balance deficit for the first 11 months of the fiscal year 2019 (October 2018 to August 2019), the Fiscal Policy Office and Ministry of Finance report. The government has received Bt2.309 trillion in revenue for the 11-month period, Lavaron Sangsnit, the director–general of the Fiscal Policy Office and the Ministry of Finance spokesperson, said. Government disbursements were Bt2.7 trillion. To finance the deficit, the government has borrowed Bt348.978 billion, thus leaving a treasury reserve of Bt512.27 billion at the end of August 2019. Source: https://www.nationthailand.com/business/30376354 -- © Copyright The Nation Thailand 2019-09-18 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
Destiny1990 Posted September 19, 2019 Share Posted September 19, 2019 Surely its some misunderstanding. Link to comment Share on other sites More sharing options...
worgeordie Posted September 19, 2019 Share Posted September 19, 2019 Little wonder that the Thai population is in debt,when the Government can't even balance the books,and is spending like a drunken sailor.its not giving a good example,and it's not just Thailand. USA,EU,Oz,most of the World really. regards Worgeordie Link to comment Share on other sites More sharing options...
Chazar Posted September 19, 2019 Share Posted September 19, 2019 6 minutes ago, worgeordie said: Little wonder that the Thai population is in debt,when the Government can't even balance the books,and is spending like a drunken sailor.its not giving a good example,and it's not just Thailand. USA,EU,Oz,most of the World really. regards Worgeordie Not me but i'll end up paying the price no doubt for everyone else's cavalier attitude. Link to comment Share on other sites More sharing options...
BritManToo Posted September 19, 2019 Share Posted September 19, 2019 They had $210 billion in foreign exchange reserves. Subtract the $10 billion they just lost ...... They've still got $200 billion left, another 20 years before they run out of cash. Link to comment Share on other sites More sharing options...
Sydebolle Posted September 19, 2019 Share Posted September 19, 2019 Well, the Hopewell (not "hope well") bill is not paid yet and some open bills will hit the till once the submarines are in port ???? Link to comment Share on other sites More sharing options...
rickudon Posted September 21, 2019 Share Posted September 21, 2019 On 9/19/2019 at 8:27 AM, BritManToo said: They had $210 billion in foreign exchange reserves. Subtract the $10 billion they just lost ...... They've still got $200 billion left, another 20 years before they run out of cash. Not the same as the quoted figures. They say borrowed 349 billion baht, and 512 billion in reserves left. Ah sorry, you are looking at BOT reserves in US dollars ……. But they are running a 15% deficit. That isn't really sustainable. The treasury reserves will last 18 months, but who owns the money held by BOT? The government? or other people? If other people, they may not take kindly to it being borrowed to run the country. One to watch. Link to comment Share on other sites More sharing options...
chainarong Posted September 21, 2019 Share Posted September 21, 2019 The whole idea if possible is to run in surplus , however in deficit you need to reign in spending, with purchases like, Submarines, tanks, fast Chinese trains, and a bit of US armour and something that Thailand doesn't need, borrowing from China, otherwise, the budget isn't going to run in surplus for some time. ???? Link to comment Share on other sites More sharing options...
Cadbury Posted September 21, 2019 Share Posted September 21, 2019 35 minutes ago, chainarong said: The whole idea if possible is to run in surplus , however in deficit you need to reign in spending, with purchases like, Submarines, tanks, fast Chinese trains, and a bit of US armour and something that Thailand doesn't need, borrowing from China, otherwise, the budget isn't going to run in surplus for some time. ???? The budget has been in deficit for each of the last 20 years. Exceptions being 2005 and 2006 (Thaksin budgets). But like you say some big ticket items coming up like the following: As well as the fast trains there are mass transit projects in the ministry’s 2018 Action Plan awaiting Cabinet approval: • Procurement of new aircraft for Thai Airways International (Bt150 billion). • Civil works on the southern extension of the MRT Purple Line between Tao Poon and Rat Burana (worth Bt77 billion) • Phase 3 of the Laem Chabang Deep Sea Port (Bt84 billion) • Double rail tracks for Jira-Ubon Rachathani (Bt37 billion) • Double rail tracks for Khon Kaen-Nong Khai (Bt26 billion) • Double rail tracks for Pak Nam Po-Denchai (Bt62 billion) • Double rail tracks for Chumpon-Surat Thani (Bt24 billion) • Double rail tracks for Surat Thani-Hat Yai-Songkhla (Bt57 billion) • Double rail tracks for Denchai-Chiang Mai (Bt59 billion) Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.