As of Dec 31, Thailand’s public debt-to-GDP ratio stood at 52.1% with a value of 8.1 trillion baht. (Photo by Chanat Katanyu)
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.
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