Ministry of Finance reports a decrease of 5 billion baht in revenue collection in first quarter

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BANGKOK, 22 January 2014 The Ministry of Finance has collected about 5.7 billion baht less in revenue in the first quarter of this fiscal year compared to the year earlier. 

Director of the Fiscal Policy Office and spokesperson for the Ministry of Finance, Mr. Somchai Sajjapongse, reported that in the first quarter of the current fiscal year (October – December 2013), the government received 496 billion baht in revenue, approximately 5.7 billion baht or 1.1% less than the previous fiscal year.

Mr. Somchai stated the reason for the decrease in revenue being the auction of the 3G, in which 20.8 billion baht had been allocated to support the technology in the nation.

Although the budget disbursement in the quarter mentioned was at 831 billion baht, or 5.7% higher than the previous year, Mr. Somchai stated that utilizing leverage to cover the government’s deficit will in turn add to the economic growth of the country – despite the ongoing political turmoil.