Finance Minister Arkhom Termpittayapaisith has projected Thailand’s public debt will rise to 62% of GDP in fiscal 2022 from 59.6% as of December 2021.
He said whether the government can maintain the debt level at 62% depends on if the country posts economic growth of 4% this year.
The National Economic and Social Development Council projects economic growth this year in a range of 3.5-4.5%, driven by rising demand, a recovery in domestic tourism, strong exports and high public investment.
Mr Arkhom’s debt projection assumes the government fully borrows 500 billion baht under the second emergency loan decree and fully borrows another 700 billion in fiscal 2022 to offset the budget deficit.
Over the past year the cabinet approved borrowing of around 400 billion…
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.