Govt revenue in first 8 months of fiscal year totals Bt2.69 tn
FOR THE FIRST eight months of fiscal 2016, collections of revenue from state agencies and contributions from state-owned enterprises via the Government Financial Management Information |System totalled Bt2.69 trillion as of May 3.
Overall government spending from October to May was Bt1.79 trillion, or 65.77 per cent of the Bt2.72-trillion budget, Manas Jamveha, director-general of the Comptroller-General’s Department, said yesterday.
The largest proportion of the revenue came from value-added tax at Bt50.81 billion, or 17.36 per cent of all tax revenue received, followed by corporate income tax at Bt30.44 billion or 10.40 per cent, personal income tax at Bt24.67 billion or 8.43 per cent, and tax on oil and oil products at Bt12.99 billion or 4.44 per cent.
Other non-tax revenue comprised Bt27.71 billion in contributions from state enterprises and Bt30.13 billion in off-budget funds.
The department expects tax revenue last month will exceed that of May last year thanks to the slight improvement in the economy.
State disbursements in the period accumulated to Bt1.79 trillion, or 65.77 per cent of the Bt2.72-trillion budget.
State agencies expedited their spending to help boost the economy in line with the government’s economic stimulus measures.
Manas said the stimulus measures were raising the standard of living in sub-districts (tambon) and at the village level, investing in small stimulus schemes nationwide and upgrading villages’ potential to help expand the economy.
The higher tax revenue via the information system and state spending in the period over the same period last year helped stimulate the economy in line with the government’s objective to ensure sustainable economic growth and stability, he said.
