ID :
142926
Tue, 09/21/2010 - 09:56
Auther :

Thailand’s fiscal position continues very strong: Fiscal policy chief

BANGKOK, Sept 21 – Thailand’s fiscal position in the first 11 months of fiscal 2010 remained very strong with total revenue reaching Bt1.47 trillion, up 20.7 per cent from the same period last year, according to the Fiscal Policy Office (FPO).

FPO Director-General Satit Rungkasiri attributed the significant increase in revenue to the country’s continued economic recovery, which helped boost tax collections from domestic consumption and imports.

In addition, a portion of the revenue was earned from the seizure of fugitive deposed prime minister Thaksin Shinawatra’s assets valued at Bt49.02 billion.

Concurrently, budget disbursements in that period totaled Bt1.59 trillion, resulting in the government experiencing a deficit of around Bt124.56 billion.

When combined with the off-budget deficit of Bt8 billion due to the redemption of fiscal bills, the amount led a cash deficit of Bt132.57 billion.

However, he said, the government secured Bt232.58 billion in loans to offset the deficit, resulting in a cash balance surplus of Bt100 billion.

As of the end of August, the treasury balance stood at Bt393.85 billion, showing the country’s fiscal position had strengthened, enabling the government to be more flexible in implementing fiscal policy to boost economic recovery. (MCOT online news)

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