Cabinet acknowledges new public debt ceiling

[snoop1130]

 

BANGKOK (NNT) - The Cabinet has formally acknowledged a new public debt ceiling proposed by the state monetary policy committee, with the debt-to-GDP ratio now raised to 70%, from the previous cap at 60%.

 

The Cabinet has formally acknowledged the revision of the public debt ratio as concluded by the state monetary policy committee, effectively increasing the public debt cap from 60% to 70% of the national GDP.

 

Deputy Government Spokesperson Traisuree Taisaranakul said the committee during its 29 September meeting agreed upon the increase of the public debt-to-GDP ratio, in compliance with Article 50 of the State Fiscal and Financial Disciplines Act B.E. 2561.

 

According to the committee, the new debt ratio was adjusted according to new challenges posed by the Covid pandemic to give the country enough financial headroom to deal with economic fluctuations, as well as pave the way for future economic stimulus measures.

 

The newly adjusted ceiling also reflects the country’s ability to pay back loans in a sustainable manner, in line with international standards.

 

-- © Copyright NNT 2021-12-28

 

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[Pedrogaz]

What was the GDP to debt ratio when Yingluck was deposed?