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Govt reveals Bt276bn deficit

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Govt reveals Bt276bn deficit

By The Nation

 

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Fiscal budget in the first eight months of this year (October 2018-May) deficit is Bt275.87 billion, according to Lavaron Sangsnit, Director–General of the Fiscal Policy Office and Finance Ministry’s spokesperson said on Thursday.

 

He said the government has received Bt1.563 trillion in revenue during the period. 

 

The government budget disbursement was at Bt2.128 trillion.

 

To finance the deficit, the government has borrowed Bt275.879 billion. 

 

Therefore, the treasury reserve at the end of May was at Bt319.26 billion, he said.

 

Source: http://www.nationmultimedia.com/detail/breakingnews/30371881

 

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-- © Copyright The Nation 2019-06-27

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47 minutes ago, GeorgeCross said:

that should start easing the baht down a tad

Think it may have the opposite effect as they try to maintain the baht's strength and farangs paying for the deficit based on nothing more than gut feeling 🤔 

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57 minutes ago, sammieuk1 said:

Think it may have the opposite effect as they try to maintain the baht's strength and farangs paying for the deficit based on nothing more than gut feeling 🤔 

 

baht is strong because surplus so big right?

 

they would rather borrow to build then spend their reserves hence baht stays high.

 

would need to spend down reserves or run a trade deficit or lower interest rates (another way to spend down reserves) to bring the baht down.

 

ergo baht strength is political if i've got this right?

 

 

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10 hours ago, GeorgeCross said:

that should start easing the baht down a tad

May not work that way. When countries have high borrowing they try to keep their currency as high as possible to get a good rate of exchange.

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All the foreign fast food chains and foreign luxury bauble stores peddling their wares.

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