Public Debt Management Office director-general Jakkrit Parapuntakul said in the next six years, Thailand’s public debt ratio to its gross domestic product (GDP) will be no more than 60 per cent as earlier concerns were expressed by the Bank of Thailand (BoT).

He said the estimate by his office came from the fact that the government calculated the proportion of public debt to the country’s GDP within 5 years.

According to the calculation, the loans portion of the Bt350 billion budget for the government’s water management project will rise to 45 per cent of the public debt.

Such amount when included with other loans for basic infrastructure construction in the Bt2.27 trillion budget will increase the country’s public debt to 55 per cent of GDP.

The public debt ceiling will increase once there is more investment.

Regarding the progress on loans for the government’s rice pledging scheme during the 2012/2013 production season, another Bt17 billion is still needed for the assurance budget of around almost Bt270 billion.

via Public debt to GDP will not exceed 60% in next 6 years.

About the author

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Sign Up for Our Newsletter

Get notified of our weekly selection of news

You May Also Like

Moody’s affirms Thailand’s Baa1 rating and keeps outlook stable

The affirmation of the Baa1 ratings reflects Moody’s expectations that Thailand will continue to display economic resiliency to future shocks, underpinned by its large and diverse economy and strong macroeconomic policy effectiveness.

Singapore Signs Digital Trade Deal With the UK

Singapore and the UK will promote and facilitate rules that develop a safe and secure e-payment system. This includes encouraging businesses to use Application Programming Interfaces (APIs) and adopting internationally accepted standards.

Thailand to further regulate payments in crypto-currencies

The three institutions intend to avert potential impacts on the country’s financial stability and economic system, the Bank of Thailand, the Securities and Exchange Commission and Ministry of Finance said in a joint statement.