Chart, gvt’s revenues : -8,8 % for fiscal year 2009

End of september, end of the fiscal year for the thai government. Data have been updated on the website of the Finance Ministry.

Result ?

Total revenues (gross) : 1 674 billions THB, -8,8 % compared to the previous fiscal year (october 2007 to september 2008)
Corporation taxes : -14,8 % (392 billions THB)
Personal income taxes : -3,5 % (197 billions THB)
VAT : -10,8 % (at 343 billions THB)

And we are talking in current THB… So factor in inflation plus the several “stimulus” packages… that’s weak.

What about september alone ?

The VAT is at -10 % compared to september 2008. That’s better than august (-16 %). Corporation taxes take a hit at -82 % (128 billions THB).



Corporation taxes should remain under pressure.


2 Responses to “Chart, gvt’s revenues : -8,8 % for fiscal year 2009”

  1. 1 fall 19 October 2009 at 7:45 pm

    I got a nice idea for graphs…
    What about projected GDP and public debt?
    And projected government spending and revenue?

  2. 2 ThaiCrisis 20 October 2009 at 2:52 am

    I’m very defiant about this kind of ratio…
    Several reasons :
    -time lag. We will get the first reading of GDP for Q3 on november 23.
    The real test is going to be Q4. And for Q4, we will have the details end of february.

    -the fog of war : what is “debt” ? and “public debt” ? Perimeter issue. For instance, the french gvt is very talented and manage to put the “dirt under the carpet” as far as “public” debt is concerned. 😉

    -In the current “real-false” depression, with “real-false” recovery, “real-false” stimulus… we are in Wonderland.
    It’s so easy to totally distort the GDP data. In those conditions, what is the meaning of the ratio GDP / public debt ? Close to zero.

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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.

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