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Confidence Higher After Earnings Report

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The government has voiced confidence that economic measures are on track, following reports that it collected 1.87 trillion baht in revenue in the first nine months of fiscal 2022.

According to Government Spokesperson Thanakorn Wangboonkongchana, Prime Minister Gen Prayut Chan-o-cha thanked all agencies for their contributions to the nation’s post-pandemic economic recovery amid the ongoing global energy price crisis. He added that the data presented by the Ministry of Finance for the first nine months of the fiscal year 2022 (from October 2021 to June 2022) demonstrates that the government is on the right track in resolving economic issues. He also emphasized the importance of cooperating to enhance the nation’s potential so Thailand can fully recover and achieve long-term growth.

The statement comes after the Ministry of Finance reported that the government collected 1.87 trillion baht in revenue in the first nine months of the fiscal year 2022, a 7.5% increase year-on-year.

Funds disbursed during this period increased by 1.9% year-on-year to 2.43 trillion baht. Since the government borrowed 621.07 billion baht to cover the deficit, Thailand’s finances were 587.91 billion baht in surplus as of June 2022.

The revenue, excise and customs departments meanwhile collected 2 trillion baht in taxes, an increase of 10.5 percent year on year. Earnings reported by state enterprises for the first nine months totaled 116.13 billion baht, a 10% increase year on year. However, revenue from other agencies was 109.71 billion baht, an 11.7 percent decrease year-on-year.

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