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  1. #1
    Thailand Expat misskit's Avatar
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    Govt to borrow Bt1.3 trillion, as public debt borders fiscal sustainability threshold

    The Cabinet on Tuesday approved the public debt management plan proposed by the Finance Ministry for fiscal year 2021 (October 2021 to September 2021), Government Spokesman Anucha Burapachaisri said.
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    The Finance Ministry’s Public Debt Management Office plans to borrow Bt1.3 trillion and manage existing debt totalling Bt387.5 billion.

    The ministry said facilitating recovery of the economy hard hit by the Covid-19 pandemic and financial aid packages to support affected people and corporations had resulted in large budget deficits. The government also wants to borrow more to boost economic activities and its cash flow.

    Should the government go ahead with the borrowing plan, public debt will jump to 57.23 per cent of gross domestic product, close to the sustainable level of 60 per cent of GDP. As of July 31, public debt stood at Bt7.6 trillion, or equivalent to 47.04 per cent of GDP, according to the Public Debt Management Office.In related development, the Cabinet also approved a Bt1.51-trillion spending plan for 44 state enterprises for fiscal 2021.

    Govt to borrow Bt1.3 trillion, as public debt borders fiscal sustainability threshold

  2. #2
    Thailand Expat
    Edmond's Avatar
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    Quote Originally Posted by misskit View Post
    The Finance Ministry’s Public Debt Management Office
    This office's title sounds about as honest and upstanding as its plan:

    plans to borrow Bt1.3 trillion

  3. #3
    Thailand Expat jabir's Avatar
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    20% of 1.3tr is quite a lot.

  4. #4
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    Shutree's Avatar
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    Debt at 57% of GDP is still pretty good, compared to other countries.

    The UK has been over 80% of GDP for years.

    UK government debt and deficit - Office for National Statistics

    Pundits expect that Covid will see the UK at 105% soon.

  5. #5
    ความรู้ลึกลับ HuangLao's Avatar
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    Borrow against what.....??

  6. #6
    The Bestest Expat Plan B's Avatar
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    ^
    Against thin air, Jeff.

    Fiat is also backed by thin air so there's really actually no loss or gain.

  7. #7
    ความรู้ลึกลับ HuangLao's Avatar
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    The world over, most are content with a fanciful existence.

  8. #8
    Thailand Expat jabir's Avatar
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    Quote Originally Posted by Shutree View Post
    Debt at 57% of GDP is still pretty good, compared to other countries.

    The UK has been over 80% of GDP for years.

    UK government debt and deficit - Office for National Statistics

    Pundits expect that Covid will see the UK at 105% soon.
    I don't doubt those figures, but if so the UK @ 80% or even 100% is more economically stable than Thailand @ 57.

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