Prayut confirms that Thailand has strong fiscal position

Published on : Wednesday, February 15, 2017

Thailand has strong fiscal positionLarge international reserves are a testimony that Thailand has a strong financial condition as confirmed by Prime Minister Prayut Chan-o-cha yesterday while talking to the critics.

 

Prayut said that the country’s international reserves could be somewhere around US$177 billion with foreign exchange reserve of US$169 billion are solid proof of Thailand’s creditworthiness toward investors and different overseas communities.

 
He reacted in this way when reporters pointed out a drop of Bt74.9 billion in treasury reserve in 2016. However, some pointed out that treasury reserve and bank account of the government are almost same.

 
Dr Decharut Sukkumnoed, an economics lecturer at Kasetsart University, in a recent Facebook post requested the PM to resolve budget deficits within Thailand to provide a better future for the future generations and repaying the national debt as well.

 
Treasury reserve shows the domestic fiscal position and cash flow of the government while international reserves are an indicator of the country’s international economic position and creditworthiness.

 
Over the past fiscal years, current government has increased the deficits for budget to Bt395 billion per year in comparison to only 12.6 per cent as recorded by five previous governments.

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