Gov’t balance in first-half Bt263 billion deficit, 1.6 per cent of GDP
The General Government Fiscal Balance Report (GFS Basis) for the first half of the fiscal year 2019 (October 2018–March 2019) was Bt1.585 trillion, which was 6.6 per cent (Bt98.181 billion ) higher than for the same period of last year, according to a Finance Ministry report on Monday.
The rise was principally due to revenue increases from the central government (including extra-budgetary funds) and local authority organisations (LAOs) of Bt136.943 billion and Bt23.089 billion, respectively.
Meanwhile, general government expenditures for the first half of 2019 reached Bt1.848 trillion, 5.8 per cent (Bt102.061 billion) higher than for the same period last year.
As a result, Thailand’s general government balance for the first half of 2019 had a deficit of Bt263.196 billion or 1.6 per cent of GDP. Consequently, the consolidated general government primary balance, which principally reflected the intrinsic performance and the direction of fiscal policy, was in deficit to the tune of Bt176.854 billion, or 1.0 per cent of GDP.
