The Finance Ministry has collected about 1.95 trillion baht in total revenues during the first nine months of the 2023 fiscal year, beginning last October, which is 136 billion baht more than the target, according to Pornchai Thiraveja, director-general of the Fiscal Policy Office and spokesman for the Finance Ministry.

The Revenue Department has collected about 1.59 trillion baht, representing a 4% increase over the same period last fiscal year and 11.1% above the assessment.

Most of the revenues were derived from corporate and personal income and value-added tax collection, with additional revenues from mobile phone concessions, profits from investment projects and the sale of government bonds, said Pornchai.

The Customs Department has collected 97.5 billion baht, representing an increase of 20.5% over the same period last fiscal year, 23.2% above assessment.

The Excise Department’s revenues shrank by 11.1% to 350 billion baht, compared to the same period last fiscal year, 17.8% below assessment.

Revenues collected by state enterprises amounted to 122 billion baht, an increase of 5% compared to the same period last fiscal year, 0.5% below assessment.

Revenues collected by other state agencies amounted to 176 billion, representing a significant increase of 59.7% over the same period last fiscal year, 57.2% above assessment.

Pornchai said all 1.95 trillion baht was added to the government reserves. During the same period, however, 2.56 trillion baht has been disbursed for spending, with the government having secured 435 billion baht in loans to cover the revenue shortfall.