Cash deficit reaches Bt167.4 bn

By The Nation

The Thai government showed a cash deficit of Bt167.4 billion in the first 11 months of the 2008 fiscal year, said Finance Ministry Spokesman Somchai Sajjapongse.

Somchai said on Monday that the ministry received a total revenue of Bt1.355 trillion in the period, up 7.1 per cent or Bt90.3 billion from the same period last year. Contributing to the higher revenue was higher value-added taxes, liquor sales and import tariffs.

Meanwhile, the expenses totalled Bt1.48 trillion, up 4.2 per cent or Bt59.47 billion from the same period last year. The amount represented the 83.7 per cent reimbursement of the 2008 fiscal budget.

"The deficit is in line with the budget deficit policy, to boost the economic growth by 5-6 per cent," Somchai said. "The figures indicated a possibility that the annualised revenue would be 2-2.5 per cent higher than last year. And the budget deficit could be below the target by about Bt165 billion."

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Cash deficit reaches Bt167.4 bn

The Thai government showed a cash deficit of Bt167.4 billion in the first 11 months of the 2008 fiscal year, said Finance Ministry Spokesman Somchai Sajjapongse.

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