In the first 9 months of fiscal year 2020 (October 2019 ? June 2020), general government revenue (central government, extrabudgetary fund, and Local Authority Organizations) was 2,342,103 million Baht, which dropped
10.3 per cent (269,155 million Baht) from the same period of last year. This significant drop of revenue was mainly due to the economic impact of COVID-19 pandemic and the implementation of government?s relief measures to support individuals and businesses such as tax filing extension and reduction of withholding tax rate. Whilst, the expenditure was 2,956,492 million Baht, which surged 11.3 per cent (299,908 million Baht) from the same period of last year.
As a result, Thailand general government balance for the first 9 months of FY2020 was in deficit of 614,389 million Baht or 3.9 per cent of GDP. Conclusively, the consolidated general government primary balance, which excludes interest payment to reflect the substantive performance and the direction of fiscal policy, was in deficit of 471,000 million Baht, or 3.0 per cent of GDP. According to the certain situation, the implementation of this data must be cautious due to the abnormalities being affected by the spread of COVID-19 and government relief?s measures.
Source: Ministry of Finance