Thailand's Debt Remains Manageable Despite New Borrowing

[snoop1130]

 

Thailand’s public debt is under control, says Public Debt Management Office (PDMO), despite recent borrowings for fiscal 2024. Jindarat Viriyataveekul, a PDMO advisor, confirmed the country's debt remains below the critical 70% of GDP line. Additional funds, totalling 145 billion baht, were borrowed to support a government handout for vulnerable citizens.

 

During the pandemic, Thailand's public debt surged due to 1.5 trillion baht in loans, yet it remains lower than several developed nations. As of August, debt stands at 64% of GDP. By IMF standards, which exclude state enterprise debt, it would be between 54 to 55% of GDP. However, including state enterprise debt, PDMO’s calculation shows a higher figure.

 

Future projections for fiscal 2025 indicate a debt level of 66 to 67% of GDP, driven by continued government expenditure. A higher-than-expected GDP growth could improve this scenario.

 

Credit rating agencies, such as Fitch Ratings, are set to evaluate Thailand’s economic strength tomorrow, October 29. To address fiscal challenges, the Finance Ministry aims to reform the tax system and cut unnecessary expenditure, while the PDMO seeks increased budgets for principal repayments to curb interest burdens. For fiscal year 2025, planned borrowing stands at 865 billion baht to manage a total expenditure of 3.75 trillion baht.

 

File photo for reference only

 

-- 2024-10-28

 

 

 

[hotchilli]

11 hours ago, snoop1130 said:

Thailand’s public debt is under control, says Public Debt Management Office (PDMO),

The old blind eye strikes again.

[dinsdale]

Thailand’s public debt is under control, says Public Debt Management Office (PDMO),

Tomorrow the sun will rise in the west and set in the east, says Thai Meteorological Department (TMD).

Edited October 28 by dinsdale

[soalbundy]

It's certainly under more control than most western nations debt.

[MalcolmB]

16 minutes ago, soalbundy said:

It's certainly under more control than most western nations debt.

Shhhhhh.

 

That won’t suit the narrative of the Thai bashers that the Thais are doing better than us.

You have just derailed the thread with that information.

[mran66]

Hen house under control said the fox

[harryviking]

Careful, Thailand, international situations might arise and "bite you in the ass"!! 😆

[billd766]

A quote from Charles Dickens from the 19th century and still valid nowadays. All you need to do is change the amount and the currency.

 

“Annual income twenty pounds, annual expenditure nineteen nineteen and six , result happiness.
Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery”
― Charles Dickens, David Copperfield

 

Several problems with borrowing money is

 

1) it has to be repaid with interest.

 

2) Eventually nobody will lend money any more, so what happens then?