Motivation: Our national source for Thailand reports government finances (revenue, expenditure, balance), per the GFS 2001 standards, in not seasonally adjusted (NSA) terms, beginning in October 2001.
Response: We have extended the history of the three active series using their predecessors. Moreover, for international consistency, we have created seasonally adjusted counterparts.
Properties: Both datasets begin in January 1991. Expect each SA series to be revised with each new historical value appended to the NSA fundamental.
Method:
- For revenue, splice the predecessor and active series.
- GVLREV11UM.ITHA, January 1991-September 2011
- GVLREVUM.ITHA, starts October 2001, per GFS 2001
- Repeat with expenditure (GVLEXP11UM.ITHA, GVLEXPUM.ITHA).
- Seasonally adjust revenue and expenditure separately, using the U.S. Census Bureau's X-12 ARIMA program, producing GVLREVAM.ITHA and GVLEXPAM.ITHA.
- Compute SA budget balance as an identity:
- Budget balance (GVLBGBAM.ITHA) = Expenditure - Revenue
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