Budget deficit of 157 billions THB for first half of fiscal year 2008

The Thai government suffered a deficit of Bt156.87 billion during the first half of the 2008 fiscal year, which began on October 1, up about Bt75.6 billion from the corresponding period of Fiscal 2007, a Finance Ministry spokesman said.

Revenue earned by the government during the period totaled Bt657.21 billion, up 7.6 per cent from the corresponding period of the previous fiscal year. Its expenses amounted Bt816.76 billion, an increase of 14.4 per cent from one year ago, Mr. Somchai said. (TNA)

It’s important to note that the budget for current fiscal year 2008 (= from october 1 2007 to september 30 this year) was set by the Junta. The Samak governement has had -until now- small effect on it.

And the target deficit for the whole year was… 165 billions THB (read here). Therefore, the government recorded the deficit of the whole year… in just six months.

The new administration has decided to spend 110 billions THB more in order to “boost” the economy (with various “stimulus packages” and other short term expenses).

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