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H1 deficit up at 157 billion baht


May 5, 2008

H1 deficit up at 157 billion baht

Thailand suffered a deficit of  156.87 billion baht during the first half of the 2008 fiscal year, which began on October 1, up about 75.6 billion baht from the corresponding period of Fiscal 2007, Thai News Agency quoted a finance ministry spokesman as saying.

Somchai Sajjapong, who advises the Ministry's Fiscal Policy Office, said the government in first half of Fiscal 2008 suffered a deficit of 164.04 billion baht, while the government's local administrative organisation enjoyed a finance surplus of 7.17 billion baht, meaning the government was in deficit of 156.87 billion baht.

The government saw the budget deficit going up to 159.55 billion during the same period, representing 1.7 percent of gross domestic product, said Somchai.
Revenue earned by the government during the period totaled 657.21 billion baht, up 7.6 percent from the corresponding period of the previous fiscal year. Its expenses amounted 816.76 billion baht, an increase of 14.4 percent from one year ago, Somchai said.

Payment to overseas on project loans and structural adjustment loans during the first half of fiscal 2008 totaled 285 million baht, down sharply by 56.7 percent, he said.

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