Thailand: Arkhom vows debt will not exceed 60%

  • As of 31 Dec 20, Thailand’s public debt-to-GDP ratio stood at 52.1% with a value of THB8.1tr.
  • Thailand’s public debt will not exceed the 60% ceiling rate by 2025 if there is no more borrowing for Covid-19 management, says Finance Minister Arkhom Termpittayapaisith.
  • The government expects to manage the fresh outbreak and there is sufficient capital in government coffers to cushion the impact, said Mr Arkhom. But if a third wave occurs, the government might have to resort to more loans, he said.
  • An initial assessment of this scenario found it would not affect fiscal stability because of robust fundamentals, said Mr Arkhom.
  • Based on an assessment of the four-year fiscal situation, running from 2022 to 2025, Thailand’s public debt-to-GDP ratio will not exceed 60%, with the THB1tr emergency loan decree taken into account, he said.

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