Government revenue for fiscal 2014 could fall below target as a result of the ongoing political uncertainty, says Chakkrit Parapuntakul, the deputy permanent secretary for finance.
If revenue misses the target, even as spending continues as normal, the government may have to tap the country's treasury accounts to help finance the shortfall. As of February, the Finance Ministry had 236 billion baht in its treasury accounts.
The fiscal 2014 budget, which runs through September, puts revenue at 2.275 trillion baht against spending of 2.525 trillion. Some 83% of government revenue comes from the three main tax agencies: the Revenue Department, the Customs Department and the Excise Department.
This article is older than 60 days, which we reserve for our premium members only.You can subscribe to our premium member subscription, here.