Thai government sends over Bt1.6t to state coffers this year

BANGKOK, July 26 (TNA) - The Thai government has sent its revenues of over 1.6 trillion baht to the state coffers during the first nine months of the 2013 fiscal year, which started from October 1, 2012. Somchai Sujjapongse, Director-General of the Fiscal Policy Office (FPO), in his capacity as the Finance Ministry spokesman, told journalists on Friday that the Thai government's revenues from October 2012 to June 2013 amounted to about 1.62 trillion baht, a 12.1 per cent year-on-year increase and it has been sent to the state coffers. Somchai said that the government's increased revenues mainly resulted from the rising collection of the value-added tax (VAT) and the excise tax on vehicles, reflecting Thailand's continual economic growth boosted by domestic demand. As of June 2013, the FPO chief acknowledged, Thailand's treasury reserves amounted to about 423.50 billion baht, close to its amount in the same period last year. According to the FPO chief, the delivered substantial amount of the government's revenue from the corporate income tax in June alone boosted the state treasury reserves by over 400 billion baht, a highly secure level which can cope with Thailand's economic fluctuations and support the implementation of the Thai government's policies throughout the 2013 fiscal year. During the same period, the FPO chief noted, however, that budget disbursements in the Thai public sector amounted to 1.85 trillion baht, a 7.2 per cent year-on-year increase, resulting in the government's budget cash deficit of about 238.04 billion baht. When a deficit of 120.50 billion baht in the non budget cash balances was included, the Thai government posted a total budget cash deficit of about 358.54 billion baht during the first nine months of the 2013 fiscal year. (TNA)