Government spokesman Lt-General Sansern Kaewkamnerd said that the speculation was untrue as the country’s treasury reserves totalled Bt74.9 billion as of December.

“The government’s fiscal status has remained sufficiently strong. In the first quarter of the current fiscal 2017, the government continuously injected money into the economic system,” the spokesman said.

“The budget disbursed during the period was Bt78-billion higher than the same period in the last fiscal year. Government revenues were Bt27-billion higher than the previous estimate,” he added.

He said the increase in excise tax for aircraft fuel, as well as other kinds of fuel, was in line with the principle of demand and supply in the world market.