Wed, October 27, 2021

business

Cabinet approves THB1.3 trillion borrowing next year


The Cabinet on Tuesday approved fresh borrowing of 1.344 trillion baht for the new fiscal year, which starts next month.

The new borrowing comes under the Cabinet-approved debt management plan. The plan includes 1.5 trillion baht already borrowed by the government plus a 2022 repayment plan totalling 339.29 billion baht, said a government spokesperson.

Under the plan, the country’s public debt is expected to reach 62.69 per cent of GDP by the end of fiscal year 2022, up from 55.59 per cent as of this July.

Earlier this month, the government lifted the debt ceiling from 60 to 70 per cent of GDP to boost fiscal flexibility in combating the Covid-19 crisis.

Published : September 28, 2021