Thai government reported strong financial position during first 5 months of fiscal 2012

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BANGKOK, 23 March 2012 – The government’s financial position remained sound and strong during the first 5 months of fiscal 2012, according to the Finance Ministry. 

Mr. Somchai Sujjapongse, Director General of the Fiscal Policy Office, said on Thursday that, by the end of February, the government had 145.10 billion baht in its pocket, the level that is considered strong and stable.

Mr. Somchai elaborated that, during the first 5 months of fiscal 2012, state revenue collection totaled 670.40 billion baht, a slight increase from the sum of 651.68 billion baht recorded at the end of fiscal 2011.

He added that state expenditure totaled 899.34 billion baht, which was lower than the 988.25-billion-baht figure recorded during the same period of last year.

As a result, the state budget recorded a deficit of 228.93 billion baht, which was a 32% decrease from the 336.57-billion-baht deficit in the previous year.

The Fiscal Policy Office chief went on to say that the government’s success in the 2012 budget disbursement plan has enabled it to pursue all policies and equipped it with the flexibility in the management of the country’s reserves, which is essential for the sustainable financial strength throughout the whole fiscal year.

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