Finance Ministry to borrow another Bt214 billion in case of revenue shortfall
The Cabinet has agreed to let the Finance Minister borrow an additional Bt214 billion in the 2020 fiscal year to address possible revenue shortfall, the Public Debt Management Office’s director general Patricia Mongkhonvanit said.
As part of the Cabinet approval, the debt management office will borrow Bt50 billion by issuing savings bonds this month for the general public.
She added that the borrowing will have a slight effect on the public debt ratio, which currently stands at around 45.83 per cent of the gross domestic product (GDP). It is expected to surge to between 51 and 52 per cent of the GDP by the end of this fiscal year.
The country's planned total expenditure for the 2020 fiscal year is Bt3.2 trillion and the ministry had previously borrowed Bt469 billion to finance its budget deficits.
