Thai financial status remains healthy

BANGKOK, 25 July 2011 (NNT) – The Fiscal Policy Office (FPO) has reported that the financial status of the government remains healthy with the revenue collection of over 1.39 trillion baht in the first six months of the 2011 fiscal year. According to FPO Director Naris Chaiyasoot, revenue collection for the first nine months of Fiscal 2011 from October 2010 to June 2011 stood at 1.390 trillion baht, up 144.223 billion baht or 11.6% year-on-year, thanks to the continuously expanding economy. The combined amount of income sent by the Departments of Revenue, Excise and Customs as well as state enterprises to the state coffer hence was rising continuously. Budget disbursement was recorded at 1.697 trillion baht, up 26.8% year-on-year or 358.945 billion baht. The government thus had a budget deficit of 307.716 billion baht. After combined with an off-budget surplus of 39.999 billion baht, the total cash deficit was at 267.717 billion baht. The government had borrowed 139.439 billion baht to compensate the cash deficit; so the total deficit after loan stood at 128.278 billion baht. The treasury reserve at the end of June 2011 was 301.044 billion baht. The Ministry of Finance is confident that treasury reserves at the end of 2011 fiscal year will be over 400 billion baht, similar to that of the 2011 fiscal year, which is deemed very stable.