Results 1 to 3 of 3
  1. #1
    Mid
    Mid is offline
    Thailand Expat
    Mid's Avatar
    Join Date
    Aug 2007
    Last Online
    @
    Posts
    1,413

    Government's cash balance deficit surges in fiscal 2008

    Government's cash balance deficit surges in fiscal 2008


    BANGKOK, Feb 15 (TNA) The Thai government experienced a major deficit of more than Bt150 billion in cash balance in the first four months of Fiscal 2008 as a result of accelerated state spending on investment, according to the Fiscal Policy Office.

    FPO spokesman Somchai Sajjapong revealed that the government's cash status in January was in deficit for the fourth consecutive month by Bt34.62 billion.

    Overall, in the first four months of Fiscal 2008, the government had experienced a deficit of Bt150.27 billion, up 185 per cent from the same period of the previous fiscal year, he said.

    Of this, Bt121.39 billion is a budget deficit and Bt28.88 billion is an off-budget deficit.

    The large increase in the cash balance deficit was attributed to the acceleration of state spending in investment, which surged by 237.3 per cent.

    Mr. Somchai said revenue earned by the government in January totaled Bt100.71 billion, down Bt6.32 billion or 5.9 per cent from the same month last year, partly because some Bt10.02 billion was set aside for local administration units and that excise tax collection on vehicles and revenues from state enterprises was lower than last year.

    Simultaneously, the government's budget disbursements totaled Bt158.4 billon, up 63.2 per cent from the same month the year before.

    Budget disbursements for investment increased by Bt40.83 billion or 336 per cent and that for regular spending by 25.3 per cent. (TNA)-E005

    enews.mcot.net

  2. #2
    Days Work Done! Norton's Avatar
    Join Date
    Oct 2007
    Last Online
    @
    Location
    Roiet
    Posts
    30,009
    Quote Originally Posted by Mid
    Overall, in the first four months of Fiscal 2008, the government had experienced a deficit of Bt150.27 billion, up 185 per cent from the same period of the previous fiscal year, he said.
    Seems our khaki clad friends got a wee bit carried away. Suspect a good portion of the deficit is due to spending for new military toys.
    Last edited by Norton; 18-02-2008 at 07:21 PM. Reason: Typo

  3. #3
    Mid
    Mid is offline
    Thailand Expat
    Mid's Avatar
    Join Date
    Aug 2007
    Last Online
    @
    Posts
    1,413
    probally could have put this in a new thread but it ties in here .

    Thai PM stresses populist agenda in policy package

    BANGKOK, Feb 18 (TNA) Thailand's Prime Minister Samak Sundaravej presented his coalition government's policy package to parliament Monday, revealing as anticipated a statement similar to the populist policies of toppled prime minister Thaksin Shinawatra.

    The premier announced his government's plan to revive the universal health care scheme for the poor, debt suspension for farmers, low-cost housing for the poor and the small-, medium-, and large-scale village fund reflected the populist policies adopted by the now-dissolved Thak-Rak-Thai party established by the deposed premier.

    Delivering the policy statement before the Parliament, Mr. Samak predicted the government would face two major daunting problems in the near future, including both the impact of the sub-prime lending crisis in the United States and rising oil prices.

    snip

    Jurin Laksanavisit, Democrat Party deputy leader, said the opposition will respond to all policy issues, particularly those of which the government would implement in its first year in office.

    In addition, it would mention the public's hardship from higher prices, higher production costs and persistent violence in the far South.

    Regarding the government's plan to resume the range of populist policies initiated by the Thaksin Shinawatra administration during its 5-6 years in office, he conceded that they seemed to satisfy the demand of a certain section of the public.

    But populism had also caused adverse impacts, since the policy had encouraged the public to borrow for consumption, ending up with a rising debt burdens borne by households.

    snip

    enews.mcot.net

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •