Cabinet lump sum cash balance deficit to foster GDP
15 September 2008

The Cabinet Office has revised its financial balance in the 2008 fiscal year, and the Government has experienced a balance deficit amounting to 167 billion baht during the last 11 months. The deputy director of the Fiscal Policy Office, Ministry of Finance, Mr. Somchai Sajjaphong (สมชัย สัจจพงษ์), indicates that from the number mentioned above, the Cabinetís cash balance deficit was totaled 5.9 billion baht in August 2008.

Mr. Somchai says the deficit was tended to be made by the Government in an effort to help stimulate gross domestic product (GDP) as of 2008, adding that the Cabinet expected the expansion of GDP growth to hit its existing target of 5-6 percent. He says the Governmentís income in August was 112 billion baht while its defrayal was 123 billion baht, adding that total balance deficit in August stood at 11.664 billion baht.

Mr. Somchai further states that the Governmentís income as of the fiscal year 2008 during the 11 months was more than 1.355 trillion baht whilea its defrayal was totaled at 1.483 trillion baht. He expects that the percentage of government income as of the fiscal year 2008 is expected to reach 2-2.5 percent for the whole year.