MOF remains optimistic about internal revenue

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According to the Ministry of Finance, cash flows in the 2011 fiscal year indicate an increase of internal revenue by up to 8.8 percent, equivalent to 1.05 trillion baht, due to the fast growing economy. Alternatively, the ministry noted that the revenue for May 2011 was 155 billion baht.

The Thailand Public Finance Data revealed that the revenue for the 2011 fiscal year had significantly grown over last year’s 8.8 percent record at 85 billion which resulted from a fast growing economy. In addition, the total budget disbursement was recorded at 1.5 trillion baht, a rate higher than last year’s 306 billion baht, or 25.5 percent. Hence the 274 billion baht government finance requirement had broken May 2011’s record of 155 billion baht.

Furthermore, the statistics had exceeded the targeted amount which ensured that the Ministry of Finance would consist with greater revenue throughout the year. This will also improve the status of the ministry despite external factors and the flexible oil excise taxation according to reports.

Source: http://thainews.prd.go.th/en/news.php?id=255406190010

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