Thailand to borrow 2.59 trillion baht for 2025 budget

[ModdaPunk]

Now we know where western inflation money is going.

We are paying more so that insolvent consumers in the emerging world can keep pushing.

Nice!

Edited 2 hours ago by ModdaPunk

[billd766]

2 hours ago, NoDisplayName said:

 

Hub of maxing out the cash advance on your final available credit card to pay the late fees on your other maxed out delinquent credit cards!

Luckily for me I got rid of all my credit cards years ago and I just have debit cards only.

 

If I order something using them it will be rejected if there are not enough funds available.

 

A brutal but effective way of staying out of debt.

[Purdey]

On 9/19/2024 at 4:16 PM, snoop1130 said:

public debt is projected to reach 66% of gross domestic product (GDP) by the end of September next year, assuming a 3% economic growth rate. This figure remains below the 70% legal ceiling but is an increase from 63.7% at the end of July 2024,

I have a feeling that if they get to 70% they will simply change the law to 80% or more.

Didn't Thaksin pay off the country's debt to the IMF in record time?

[tomacht8]

If Thailand managed to properly combat corruption and properly tax the top 5 percent of the richest Thais, the country would not need to take out loans.

[tomacht8]

5 hours ago, chiang mai said:

60% of GDP is not big by international standards, neither is 70. 

That's right. But if you add consumer loans from the private sector, things look bleak in Thailand. The majority of the Thai population is up to their ears in personal debt already. And now the goverment try to max out there loans for public spending.

Edited 1 hour ago by tomacht8

[chiang mai]

21 minutes ago, tomacht8 said:

That's right. But if you add consumer loans from the private sector, things look bleak in Thailand. The majority of the Thai population is up to their ears in personal debt already. And now the goverment try to max out there loans for public spending.

Yes, but you can argue this a number of different ways. You could say that at least the country doesn't have massive social security/pension costs hanging over its head plus it's free of unions. Plus the debt level is not that high by comparison and it's all Thai debt, not foreign. In those regards the country is still its own master and not obligated externally. Western countries are now on the cusp of having to take things away from citizens because of massive debt overhang, Thailand at least is still at that point where it has an opportunity to get the way forward right, for everyone's benefit.

[chiang mai]

Awww, too difficult and confusing eh!