Thai govt earned 2.02 trillion baht in 10 months but still borrowed

The Fiscal Policy Office of Thailand revealed the kingdom filled its coffers with 2.02 trillion baht in the past ten months but still had to borrow about 658 billion baht to overcome its deficit.

The Director of the Fiscal Policy Office of Thailand, Pornchai Theerawet, yesterday revealed that Thailand earned 2.02 trillion baht in the first 10 months of the 2022 fiscal year from October 2021 to July 2022.

Pornchai added that the revenue was higher by 2.9% or 56.2 billion baht, compared to the same period of the last fiscal year. He said the higher amount came from the expansion of the economy, international trade, and consumption.

Pornchai also made known the nation’s shared expenses during this fiscal year, which was 2.69 trillion baht, higher than the same period of the last fiscal year at 371 billion baht.

The cost increased due to increased expenditures from the Public Health Ministry, the Defense Ministry, the Commerce Ministry, the Agriculture and Cooperative Ministry, state enterprises, and the courts.

According to the fiscal policy office director, the government borrowed 658 billion baht to overcome the deficit, making the treasury reserves at the end of July total 501 billion baht.

The Permanent-Secretary of the Commerce Ministry, Kritsada Jeenawijarana, predicted that Thailand could earn 40 to 60 billion baht more than its target. The total treasury reserve for this fiscal year is expected to be 550 billion baht.

Kritsada said the number of treasury reserves will be reserved for the beginning of next year while waiting for the revenue from taxes in March and April.

SOURCE: Thaipost