Fiscal 2016 public debt will not exceed 46% of GDP, PDMO says
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The Finance Ministry expects Thailand's public debts not to exceed 46 per cent of gross domestic product in fiscal year 2016 if all state agencies go ahead with their investments as planned.
Suwit Rojanavanich, director-general of the ministry’s Public Debt Management Office, said the public debt so far remained within the fiscal-sustainability framework of 43.5 per cent of GDP set early this year.
At the end of September, the country’s public debt was 42.99 per cent of GDP, or Bt5.78 trillion. Of that total, about Bt5.42 trillion or 93.77 per cent was domestic debts and the remaining Bt360.28 billion or 6.23 per cent external.
A total of 96.42 per cent were long-term debts and the remaining 3.58 per cent short-term.
The public debt accounted for 6.54 per cent of Thailand’s foreign reserves as of September 30.
