Government revenue collection has exceeded its target by 2.4% for the first nine months of fiscal 2026, reflecting the country's economic recovery.
The Finance Ministry reported net government revenue collected during the first nine months of fiscal 2026, covering October 2025 to June 2026, totalled 2.15 trillion baht, outpacing the official estimate by 50.9 billion baht or 2.4%.
The uptick was attributed to stronger value-added tax receipts, with additional contributions from extra dividend payments from the accumulated profits of Vayupak Fund 1. In addition, dividend remittances from several state-owned enterprises were higher than expected due to improved operating performance, while there were surplus proceeds from bond sales related to government borrowing to finance the fiscal deficit.
Tax refunds issued by the Revenue Department exceeded the estimate by 16.2 billion baht thanks to the government's policy to streamline and accelerate the corporate income tax refund process to improve liquidity for businesses.
Total revenue from the three main tax-collecting agencies tallied 2.27 trillion baht, exceeding the target by 30.8 billion or 1.4%. The Revenue Department collected 1.75 trillion baht, surpassing its target by 35.3 billion baht or 2.1%.
The Excise Department collected 433 billion baht, beating its target by 1.26 billion baht or 0.3%, while the Customs Department collected 85.8 billion, falling short by 5.83 billion or 6.4% of its target. Customs revenue for the period increased 0.5% year-on-year.
Revenue remitted by state-owned enterprises contributed 170 billion baht, exceeding the estimate by 29.5 billion or 20.9%, while other government agencies remitted 139 billion baht, 10.4% above the target. Other government agencies refers to bodies that do not collect tax, but generate revenue for the state such as the Treasury Department, which remitted 11.6 billion baht for the period.
According to the cash-based fiscal report, total government revenue remitted to the Treasury amounted to 2.15 trillion baht, while budget disbursements tallied 3.14 trillion baht. To finance the budget deficit, the government borrowed 762 billion baht for the period, resulting in a Treasury cash balance of 424 billion baht as of the end of June.
The ministry also upgraded its GDP growth forecast for this year, rising to 2.5% from 1.6%, a modest gain from fiscal 2025 supported by strong export growth, an uptick in private investment, and resilient private consumption helped by stimulus measures.
