Source: Thailand can borrow $38B before it hits debt limit

The Thai government still has room to borrow another 1.3 trillion baht ($38.3 billion) before it reaches the 70 per cent ceiling of public debt as a ratio of gross domestic product (GDP), a source from the finance ministry said.

Public Debt Management Office (PDMO) director Patricia Mongkhonvanit said on April 21 that there was still room for the Ministry of Finance to borrow more loans, but the government will have to issue a special law to permit the borrowing.

She said all the borrowings must comply with existing laws and must clearly state the reasons, the urgency and objectives.

The PDMO director did not elaborate on the amount of money the government could borrow, but the source explained that the 70 per cent ceiling could allow the government to borrow another 1.3 trillion…