BANGKOK (NNT) - The Cabinet has approved the first adjustment of the public debt management plan for the 2024 fiscal year. 

 

The plan includes:

1. An increase in new debt plans from 560.27 billion baht to 754.71 billion baht

2. An adjustment in existing debt management from 387.75 billion baht to 2 trillion baht

3. An increase in debt repayment plans from 9.07 billion baht to 399.61 billion baht

 

The Cabinet acknowledged a five-year medium-term borrowing requirement plan from the 2024 - 2028 fiscal years, assigning relevant ministries to coordinate with the state enterprises under their supervision. If readiness is lacking, plans are to be adjusted to expedite investment in state infrastructure. The Ministry of Finance is tasked with considering borrowing methods, loan conditions, guarantees, and risk management. State enterprises capable of borrowing on their own are allowed to proceed as appropriate and necessary for their operations.

 

Furthermore, the Public Debt Management Policy Committee previously agreed to increase the borrowing limit to compensate for the budget deficit by 424 billion baht. It also approved an increase in the loan restructuring amount due in the 2025 - 2028 fiscal years by 399 billion baht, as well as an increase in short-term borrowing in the form of a credit line to extend the short-term loans of the Electricity Generating Authority of Thailand by 30 billion baht.

 

By Naark Rojanasuvan

 

Full story: NNT 2024-02-14

 

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9 hours ago, snoop1130 said:

The plan includes:

1. An increase in new debt plans from 560.27 billion baht to 754.71 billion baht

2. An adjustment in existing debt management from 387.75 billion baht to 2 trillion baht

3. An increase in debt repayment plans from 9.07 billion baht to 399.61 billion baht

It looks like they're not trying to balance the books but just stalling repayment and just digging a deeper grave.

I feel sorry for the next generation of young folks that will have deal with this....

13 hours ago, snoop1130 said:

The Cabinet acknowledged a five-year medium-term borrowing requirement plan from the 2024 - 2028 fiscal years

Debt management.... borrow more.

3 hours ago, flyingtlger said:

It looks like they're not trying to balance the books but just stalling repayment and just digging a deeper grave.

I feel sorry for the next generation of young folks that will have deal with this....

Low wages, high cost of living and they wonder why young families aren't having children?

 

Should be very worrying for Thai people, especially  younger Thais who will be lumbered with the consequences.