Thai government sends more revenues to state coffers

BANGKOK, August 23 (TNA) - The Thai government has sent a total of about 1.75 trillion baht to state coffers during the first 10 months of the 2013 fiscal year from October 2012 to July 2013, a 11.7 per cent year-on-year increase. Somchai Sujjapongse, Director-General of the Fiscal Policy Office (FPO) and the Spokesman of the Thai Ministry of Finance, told journalists on Friday of the development, saying that it resulted mainly from the government's increased revenues from the value-added tax and the excise tax on vehicles. The FPO chief acknowledged that the Thai government's financial status was strong during the first 10 months of the 2013 fiscal year, as the administration's revenues from tax collections met its target and were even higher than that collected in the previous fiscal year. According to the FPO chief, the Thai government, however, faced a net cash deficit of 174.39 billion baht due mainly to its more disbursement of state budget of 2.02 trillion baht, a 6.1 year-on-year increase, to boost overall domestic consumption, resulting in administration's treasury balance at the end of July 2013 standing at 385.95 billion baht. The FPO chief noted that the government's spending remains as a key mechanism to drive the national economy, and that money from its cash deficit has cushioned the national economic growth amid a slowdown of the world economy and even Thai exports. (TNA)