Thailand’s public debt for 2022 still within projection, says govt

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https://www.nationthailand.com/thailand/economy/40021556

Thailand's public debt for 2022 still within projection, says govt

Thailand’s public debt for 2022 still within projection, says govt

SUNDAY, OCTOBER 30, 2022

Thailand’s public debt as of August stood at 60.72% of the GDP, which is still within the projection for fiscal 2022, the government spokesman said on Sunday.

Spokesman Anucha Buraphachaisri said the ratio is within a range that allows the government to continue launching stimulus measures.

Citing the medium-term fiscal plan for 2023-2026, Anucha said the public debt to GDP ratio should come in at 62.69% this year, far lower than the 70% ceiling.

“Since the economy and society have not fully recovered in the post-Covid era, public debt against the GDP is expected to rise to 64.02% in 2023 and 67.15% in 2026,” he said.

Anucha added that the government’s interest burden is still within control when compared to income, insisting that this government alone was not to be blamed for the surge in public debt.

“The public debt should be compared to the size of the GDP and economy,” he said.

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