Gvt approves 1,8 trillion budget for fiscal year 2009… with dangerous assumptions

The Cabinet on Tuesday approved the 2009 Budget Bill of Bt 1.8 trillion with a deficit of Bt249 billion. This is the first spending outlay under the Samak Sundaravej government which will see an increase of Bt175 billion from this year’s. (Nation)

Those figures were already approved by the cabinet on march 19 (read here).

But at that time, the article has more… details :

Deputy Prime Minister and Finance Minister, Surapong Suebwonglee, says the budget framework for the fiscal year 2009 is run under the assumption that Thailand’s economy will grow 5.5 to six per cent, and the GDP will increase to a level of 9.98 trillion baht, while the country’s inflation will stay at 3.5 per cent.

To assume that inflation, for the fiscal year 2009 (from october 1 2008 to september 30 2009), could ease at 3,5 % is a real risk.

And I would say it’s not even a “risk”, it’s just surreal.

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