Wed, August 10, 2022

business

Outstanding public debt is at 60.17 per cent of GDP


The Public Debt Management Office (PDMO) reported on Friday that as of February 28, the country’s outstanding public debt stood at THB9.8 trillion, or 60.17 per cent of gross domestic product (GDP).

Of the total, 98.22 per cent is domestic debt, while 1.78 per cent is foreign debt.

The office said public debt comprised THB8.02 trillion of government debt, THB696.55 billion was debt of the Financial Institutions Development Fund, THB843.32 billion was debt of state-owned enterprises, THB259.94 billion was debt of Government Guaranteed Financial SOEs – which refers to a state enterprises that undertake lending business, asset management and credit guarantees – and THB7.06 billion was debt of other government agencies.

Earlier this year, the PDMO had estimated public debt at the end of fiscal 2022 would reach 62 per cent of GDP, on the expectation that GDP would expand 3.5 to 4.5 per cent year on year. This estimation is within the limit of the State Fiscal and Financial Disciplines Act, which stipulates that public debt should not exceed 70 per cent of GDP.

The PDMO added that if the GDP this year expands more than the estimation, the ratio of public debt will be lower.

Published : April 01, 2022

By : THE NATION