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Outstanding public debt amounts to 49.34 per cent of GDP


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Outstanding public debt amounts to 49.34 per cent of GDP

By THE NATION

 

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The country’s outstanding public debt stands at Bt7.84 trillon, or 49.34 per cent of gross domestic product (GDP), a Ministry of Finance announcement said on the Royal Gazette website on Friday.

 

 

The ministry reported on the public debt situation as of September 30, as well as on government loans and guarantees from April to September 2020.

 

The report said that as of September 30, public debt comprised Bt6.73 trillion of government debt, Bt795.98 billion of state-owned enterprises (SOEs) debt, Bt309.47 billion of debt at government-guaranteed financial SOEs – which refers to a state enterprise that undertakes lending business, asset management and credit guarantees – and Bt7.82 billion of other government agencies debt.

 

The report also divided public debt into long-term and short-term ones based on the deadline for the debt to be paid. Bt6.77 trillion, or 86.26 per cent, of total public debt has a deadline of more than a year, while Bt1.07 trillion, or 13.34 per cent, must be paid in less than a year.

 

Based on origin Bt7.704 trillion, or 98.22 per cent, is domestic debt while Bt139.39 billion, or 1.78 per cent, is overseas debt.

 

Source: https://www.nationthailand.com/news/30398734

 

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-- © Copyright The Nation Thailand 2020-11-29
 
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9 hours ago, canopus1969 said:

Is that all, am surprised it is that low - those numbers would make the West jealous

 

It's not! In my experience The Thai Public are drowning in debt factors borrowing off Peter to pay back Paul. To even bring the west into compare is like comparing diamonds and coal.

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A mid-year article from the paper that can't be cited indicated that the public debt ended 2019 at 41%, and could go as high as 57% in 2021 (and this last figure is surely guesswork). This is the best I can come up with by a quick search, I'd like to find a good chart.

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6 hours ago, Barnabe said:

This is just government debt, not private. Private debt will be much higher.

But let’s not kid ourselves, these are amazing numbers compared to any western country.

If the West had only 50% government debt they would think there had been a heavenly intervention.

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2 hours ago, Scot123 said:

It's not! In my experience The Thai Public are drowning in debt factors borrowing off Peter to pay back Paul. To even bring the west into compare is like comparing diamonds and coal.

Internal debt isn't as dangerous as a government's external debt

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11 hours ago, canopus1969 said:

Is that all, am surprised it is that low - those numbers would make the West jealous

 

Most western countries have deep pockets, Thailand doesn't.

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4 hours ago, Scot123 said:

It's not! In my experience The Thai Public are drowning in debt factors borrowing off Peter to pay back Paul. To even bring the west into compare is like comparing diamonds and coal.

This is about national debt. Next time get it right if you want to bash Thailand. 

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8 hours ago, Delight said:

 It's all relative. China's public debt is about 250% of GDP.

 

 

China’s national debt is currently 54.44% of its GDP, a significant increase from 2014 when the national debt was at 41.54% of China’s GDP. China’s national debt is currently over ¥38 trillion (over $5 trillion USD). An International Monetary Fund report from 2015 stated that China’s debt is relatively low, and many economists have dismissed worries over the size of the debt both in its overall size and relative to China’s GDP. China currently has the world’s largest economy and the largest population of 1,415,045,928 people.

 

https://worldpopulationreview.com/countries/countries-by-national-debt

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24 minutes ago, Jack Mountain said:

China’s national debt is currently 54.44% of its GDP, a significant increase from 2014 when the national debt was at 41.54% of China’s GDP. China’s national debt is currently over ¥38 trillion (over $5 trillion USD). An International Monetary Fund report from 2015 stated that China’s debt is relatively low, and many economists have dismissed worries over the size of the debt both in its overall size and relative to China’s GDP. China currently has the world’s largest economy and the largest population of 1,415,045,928 people.

 

https://worldpopulationreview.com/countries/countries-by-national-debt

I think that's the central government debt only; there's apparently a lot more at various levels of local government, and many SOEs that are too important to fail...

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China probably has less debt % wise than the West, but I don’t trust their numbers one bit, it’s certainly not 50%.

 

Lying through numbers has always been their game. It is widely believed they regularly lie about their GDP growth every year.

 

As a recent example, does anyone trust their COVID case count? They might have it under control, but no way they have so little cases considering the size of the country and where it started.

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On 11/29/2020 at 5:08 PM, Scot123 said:

It's not! In my experience The Thai Public are drowning in debt factors borrowing off Peter to pay back Paul. To even bring the west into compare is like comparing diamonds and coal.

Only the poor do this and it is not significant. The 10% richest Thais own 76.6% of the wealth of the country (Credit Suisse Global Wealth Data).

The 50% poorest own about 2% of the total wealth. 

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On 11/29/2020 at 6:15 PM, Delight said:

 It's all relative. China's public debt is about 250% of GDP.

 

 

Ridiculous.

 

China’s national debt is currently 54.44% of its GDP, a significant increase from 2014 when the national debt was at 41.54% of China’s GDP. China’s national debt is currently over ¥38 trillion (over $5 trillion USD). An International Monetary Fund report from 2015 stated that China’s debt is relatively low, and many economists have dismissed worries over the size of the debt both in its overall size and relative to China’s GDP. China currently has the world’s largest economy and the largest population of 1,415,045,928 people.

 

https://worldpopulationreview.com/countries/countries-by-national-debt

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