State budget reports more than THB525bil in cash deficit since October 2011

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BANGKOK, 25 May 2012 – The Finance Ministry has reported that the state financial position remains strong even though its current fiscal budget has recorded a substantial amount of cash deficit. 

Fiscal Policy Office (FPO)’s Director-General Somchai Sujjapongse said that, during the first 7 months of fiscal 2012, which started last October, the state revenue collection totaled 947.02 billion baht, or 26.42 billion baht more than it collected the same time of last year.

In terms of expenditure, the government has disbursed 1.42 trillion baht from its budget, or around 128 billion baht more than last year.

As a result, the government has recorded a budget deficit of 479.86 billion baht. When taken into account the out-of-the-budget deficit of 45.72 billion baht, the government has a total deficit of 525.58 billion baht during October 2011 and April 2012.

Despite this, Mr. Somchai has assured that the government’s current financial position remains very strong as the Finance Ministry continues to implement economic stimulus measures.