Government Predicts Public Debt Will Reach 62% in 2022

[snoop1130]

 

BANGKOK (NNT) - The government forecasts Thailand’s public debt will reach 62% of GDP in the fiscal year 2022.

 

According to Finance Minister Arkhom Termpittayapaisith, the country’s public debt could reach 62% if the government borrows two sets of loans in order to rejuvenate the country’s economy. This prediction assumes the government borrows 500 billion baht under the second emergency loan decree and another 700 billion baht in the fiscal year 2022 to cover the budget deficit.

 

The country’s public debt increased from 6.9 trillion baht (41.0 percent of GDP) in 2019 to 9.64 trillion baht (59.6 percent of GDP) in December 2021. This is due to the government borrowing under the two emergency loan decrees during the last two years to combat the Covid-19 pandemic.

 

The Finance Minister noted the possibility that public debt might be lower than 62 percent if Thailand’s economic growth increases more than 4 percent this year. The National Economic and Social Development Council predicted economic growth in the range of 3.5-4.5 percent. Rising demand, improved exports, higher state investment, and domestic tourism rebound were all factors in the projection.

 

The Finance Minister added that the dispute between Russia and Ukraine will definitely impact Thailand because both nations are important trading partners for the country, and Russian tourists have played a significant role in rejuvenating the tourism industry. However, he assures that the country will see stable growth and authorities will adjust its strategies depending on the situation.

 

-- © Copyright NNT 2022-02-25

 

- Aetna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

- Follow ASEAN NOW on LINE for breaking COVID-19 updates

[ivor bigun]

and the baht will get stronger

[smedly]

I have a feeling these people are not telling the truth

[Pique Dard]

12 hours ago, snoop1130 said:

The government forecasts Thailand’s public debt will reach 62% of GDP in the fiscal year 2022.

 

i've seen worse!

[Cake Monster]

8 hours ago, smedly said:

I have a feeling these people are not telling the truth

Why would you ever think that ? ???? 

[KhunBENQ]

5 hours ago, Pique Dard said:

i've seen worse!

With such a number they would be a model student in the Euro area

[Marvest]

Thailand's Public debt ratio is about average as compared with the rest of the world and less than most industrialized nations.  As a developing industrialized nation, increasing public spending from this level will be beneficial. Now is a good time given the stage of economic development, interest rates environment, and competitive landscape.

[sanuk711]

So whats the problem...........

 

. UK general government gross debt was £2,223.0 billion at the end of the financial year ending March 2021, equivalent to

103.6% of gross domestic product (GDP).

--

United States  reaching an all time high of 128.10 percent of GDP in 2020

[soalbundy]

2 hours ago, KhunBENQ said:

With such a number they would be a model student in the Euro area

Not just there

[Marvest]

RRC bus from Suvarnabhumi airport (BKK) to Hua Hin 

 

It's a 23-seat coach class bus with toilet on board
The trip takes three to four hours and cost is 294 baht per seat
Go to door #8 on the lower level of the airport to purchase a ticket
It looks like the bus departs three times per day now: 10:00, 13:30, 17:00
Water is provided but no alcohol allowed
The bus arrives at the RRC bus station near Hau Hin airport
From there, they offer a mini bus to local hotels for an additional 100 baht
They also offer a mini bus to the Hua Hin clock tower in the town center at no charge
To ensure a seat, purchase the ticket in advance online:
https://airporthuahinbus.com/airport-to-huahin