Deficit to continue into fiscal 2008
Wichit Chantanusornsiri
The fiscal 2008 budget is expected to show a deficit for the second straight year, according to Deputy Finance Minister Sommai Phasee.
"We expect that the economy next year will not be fully recovered, and that state revenues will fall short of expenditures," he said yesterday. "But any deficit will be manageable, and not over that of the current fiscal year."
The fiscal 2007 budget ending in September currently calls for expenditures of 1.566 trillion baht and a projected deficit of 142.6 billion, equal to around 2% of gross domestic product.
This year's deficit follows two years of balanced budgets under the ousted Thaksin Shinawatra government.
Just a few weeks ago the the junta, the Thai media, and the Surayud government were screaming about how Thaksin was bankrupting the country.
Here are the facts:
1. Thaksin balanced the budget
2. The Junta runs Budget Deficits.
3. Even though the Thai Juntacracy says it believes in Sufficiency Theory, it doesn't believe in spending within its means. How come nobody is pointing this out?
4. The Juntacracy attacked Thaksin for Thaksinomics bankrupting the country, yet hires Somkid, the brains behind Thaksinomics, to sell Sufficiency Theory to the masses.
Any questions?
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