Govt revenue falls below target
Play
The government's revenue in the 2015 fiscal year, ending September 30, was below target by 5.1 per cent due to sluggish economic activities.
Krisda Chinavicharana, director-general of the Fiscal Policy Office as the Finance Ministry's spokesman, said the target was not achieved due to low energy prices. This lowered value-added taxes levied on petroleum imports and revenue from petroleum concessions.
"The fiscal position in the 2015 fiscal year remained strong to some extent, with over Bt400 billion in fiscal reserves. This would support the government's fiscal policies. Meanwhile, the ministry will rush government agencies and state enterprises on budget disbursement, to achieve the economic growth target," Krisda said.
A total of Bt2.2 trillion was collected during October 2014-September 2015. It was Bt117.5 billion behind target.
However, the revenue showed a 6.4 per cent increase from the previous fiscal year.
In September alone, the revenue of Bt208.84 billion was collected, 1.7 per cent or Bt3.7 billion below target.
The revenue falls short of target though state enterprises were ordered to repatriate more to the state coffers. Revenue from the state enterprises in the year totalled Bt161.25 billion, Bt41 billion or 34.4 per cent above the 2014 level.
In the year, among state enterprises, the Electricity Generating Authority of Thailand was the biggest contributor, followed by PTT, Government Savings Bank, Government Lottery Office and the Provincial Electricity Authority.
