Government revenue exceeds targets

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BANGKOK – The Ministry of Finance has revealed government revenue over the past 7 months has exceeded targets due to the 4G auction.

Director-General of the Fiscal Policy Office (FPO) Krisada Jeenavijarana has reported the state took in 1.247 trillion baht over the past 7 months of fiscal 2016, surpassing its target by 75 billion baht or 6 percent. The figure is also 8.7 percent higher compared to the same period last year.

Auctions for 900 Mhz and 1800 Mhz frequency bands, which netted the government 48.2 billion baht, have put the state enterprise segment 24.7 percent ahead of its revenue total during this period last year. Income tax, excise tax for alcohol and auto tax collection also all exceeded targets.

For the remainder of the fiscal year, the Ministry of Finance believes revenue collection will benefit from the improving economy and allow it to hit its target for the entire year.

During the first 7 months of this year, the government handed 1.220 trillion baht to the Ministry of Finance while spending 1.790 trillion baht, or 8.5 percent more than the same period last year. Most the state’s expenses were for stimulus investment.