Govt generates more income this year than last fiscal year


BANGKOK, 20 August 2012  – According to the Finance Ministry, state agencies have generated altogether 1.57 trillion baht of income in the first 10 months of the 2012 fiscal policy year, a 77 billion baht increase year-on-year. 

Director-General of the Fiscal Policy Office (FPO) Somchai Sajjapongse has announced that the government financial status in the first 10 months of the 2012 fiscal policy year, which started from October 2011, remains strong. He said the government has collected 1.57 trillion baht in revenues, which is 77 billion baht more than what it did in the first 10 months of the previous year.

At the same time, the government has 1.9 trillion baht in expenses, which is a 67-billion baht or 3.7% increase year-on-year. Mr Somchai reported the government is running a 340 billion baht budget deficit. Plus or minus other loans and spendings, which were excluded from the regular budget, the Finance Ministry has around 402 billion baht in treasury reserves by the end of July.

The FPO Director-General said the government has enough cashflow for regular expenses and to deal with economic fluctuations that may occur in the future.