Thread: Thailand : Public debt soared in April

Public debt soared in April
23/06/2009

Public debt at the end of April stood at 3.799 trillion baht, or about 43.02 per cent of the country's gross domestic product (GDP), Public Debt Management Office director-general Pongpanu Svetraundra said on Tuesday.

He said the public debt at the end of April was 91.123 billion baht higher than its previous month.

Direct government borrowing rose to 2.445 trillion baht, up by 81.001 billion baht.

Debts of state-owned financial institutions guaranteed by the government increased by 4.948 billion baht to stand at 205.061 billion baht, while the Financial Institution for Development Fund's debt was 2.028 billion baht lower to stay at 108.23 billion baht.

Debts of other state agencies remained unchanged at 3.683 billion baht.

The public debt went up after the government released financial negotiable notes worth 115.688 billion baht to compensate the budget deficit of the previous fiscal year worth 61.688 billion baht, Mr Pongpanu said.

He said 15-billion-baht government bonds and promissory notes worth 10 billion baht were issued, he said.

The Electricity Generating Authority of Thailand (Egat) issued six-billion-baht in bonds while PTT sought long-term loans worth five billion baht.

The Bank for Agriculture and Agricultural Cooperatives (BAAC) offered short-term loans of four billion baht while the Government Housing Bank (GHB) released one-billion-baht in bonds.

He said 381,828 billion baht, or 10.05 per cent, of the public debt was external debt, 3.417 trillion baht, or 89.95 per cent, internal debt.

88.83 per cent long-term debt and the remaining 11.17 per cent short-term debt.

bangkokpost.com

May vat collections are down 20% and corporate tax collections crashed 38%, the government are skint.

^

a little light on rabbits .................

Thought they had 100 billion in US dollars stashed away?

Originally Posted by Spin

May vat collections are down 20% and corporate tax collections crashed 38%, the government are skint.

bet they are sitting around thinking up new ways to nik the farang

public debt will surge to 60 per cent of GDP over the next few years

Cash shortfall soars 400% in fiscal 2009 - Nationmultimedia.com

Just throw the frozen "Toxin" cash in the pot to ease the situation

( or has that been divvied out amongst the powers that be already ? )

Originally Posted by crazy dog

Thought they had 100 billion in US dollars stashed away?

Thats good for paying for imports and keeping the Baht strong, but right now thats not what they need.

60 per cent of GDP

willing to stand corrected , however I believe that any figure in excess of 40 will require some laws to be rewritten .