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Govt posts Bt457.33 billion deficit for first 10 months

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Govt posts Bt457.33 billion deficit for first 10 months

By The Nation

 

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Lavaron Sangsnit

 

Thailand posted a deficit of Bt457.33 billion for the first ten months of this fiscal year (October 2018 to July 2019), said Director-General Lavaron Sangsnit of the Fiscal Policy Office on Wednesday.

 

Lavaron,  also spokesperson of  the Finance Ministry, added that the government recorded Bt2.129 trillion in revenue while budget disbursement amounted to Bt2.586 trillion for the same period. 

 

The government borrowed Bt322,978 million to cover the deficit incurred during the first ten months with treasury reserve declining to Bt484.55 billion as of  the end of July 2019.

 

Source: https://www.nationthailand.com/business/30375148

 

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-- © Copyright The Nation Thailand 2019-08-21
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1 hour ago, PatOngo said:

Looking at the picture, he doesn't look overly concerned......it's only 457.33 billion baht.

There's still swill in the trough. There's a new rice pledging scheme. Cool!

He is like "no biggie, I've got like couple of billions savings in my bank account and not even feel rich... so Thailand big country, many many people like me (cause I don't know population of my own nation) times 2 billies equals a lot"

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Borrowed from whom? That might not seem so much at the moment, but how much would it be when the exchange rate is corrected.

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Yet in another article I read the Thai government has US$216 billion in foreign reserves.  Maybe drawing down on that would help them avoid paying interest to the un-named lender.

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1 hour ago, jethro69 said:

Borrowed from whom? That might not seem so much at the moment, but how much would it be when the exchange rate is corrected.

From Norwegians pensjon fond, the last 5 year they borrowed close 250.000.000 millions Us Dollar. https://www.nbim.no/en/the-fund/holdings/holdings-as-at-31.12.2018/?fullsize=true

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29 minutes ago, Grumpy John said:

Yet in another article I read the Thai government has US$216 billion in foreign reserves.  Maybe drawing down on that would help them avoid paying interest to the un-named lender.

But whose pocket is that destined for?  Hang the deficit on the people and divide the spoils.

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38 minutes ago, Grumpy John said:

Yet in another article I read the Thai government has US$216 billion in foreign reserves.  Maybe drawing down on that would help them avoid paying interest to the un-named lender.

There is a reason they won't touch that!! 

They want the hot money and inflows to keep the baht strong

 

Meanwhile in 🇩🇪 .................................🙈🙉🙊

 

Nobody is going to try and attack the baht with that amount of reserves + they can manipulate it as much as they need to, to keep certain people happy!

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Making the repayments shouldn't be be a problem with all the extra revenue coming in from the 04:00 opening hours.

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All the 800k retirement bonds will help out 🤔yeah, farangs can pay the interest.

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Alright! Now that publication is over, let's go buy more toys for the Military! More submarines? What you say Mr PM? All aboard the pig trough Gov't train. Bring your brother to Watch the proceedings with Timely affair.

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4 hours ago, jethro69 said:

Borrowed from whom? That might not seem so much at the moment, but how much would it be when the exchange rate is corrected.

borrowed from domestic and international investors and governments.  the debt is issued in Thai Baht, so any change to the exchange rate won't matter as far as principal and interest are concerned.

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