State agencies see 2.6% dip in first quarter revenue of fiscal 2024
Government agencies saw a 2.6 per cent decline in revenue during the first quarter of fiscal year 2024, at 623.384 billion baht, the Fiscal Policy Office chief said on Sunday.
Pornchai Thiraveja, the office director-general, said the revenue was close to the estimated amount but it was lower 2.6% year on year when taking into account the extra revenue of 36.223 billion baht received in the last quarter of 2022.
Pornchai said the Revenue Department was the agency with the biggest revenue during the first quarter of fiscal 2024 from October to December. It collected 457.329 billion baht, mainly from value-added tax.
Pornchai said state enterprises handed over their revenue of 63.68 billion baht to the Finance Ministry during the first quarter.
The FPO chief added that Excise Department collections were 18.86 billion lower than the projected revenue due to the government cutting excise tax on diesel and petrol sales to lower retail prices.
Pornchai added that at the end of December, the government had 209.616 billion cash on hand after the state agencies had handed over total revenue of 622.652 billion baht to the Finance Ministry while government agencies deducted 963.782 billion baht for expenses. The government also obtained 20 billion baht loans to boost its liquidity.
