The Cabinet approves the public debt management plan, creating new debt of 194 billion baht, emphasizing that public debt should not exceed 70 percent of GDP.
Mr. Chai Watcharong, spokesman for the Prime Minister's Office, revealed that the Cabinet meeting (Cabinet) approved the public debt management plan. Fiscal year 2024 1. Create new debt in the amount of 194,434 million baht, mostly borrowing money to compensate for the 2023 budget deficit by extending the loan period. For overlapping annual disbursements, the limit is 40,000 million baht and borrowing money for infrastructure development. Creation of new debt by state enterprises and used as working capital of state enterprises
2. Original debt management plan Most are loans to restructure existing debt due in fiscal year 2024.
3. Debt repayment plan, consisting of debt repayment plans for the government, state enterprises, and government agency debt. From the fiscal year 2024 budget, the amount of 336,807 million baht and the debt repayment plan from other sources, the amount of 53,731 million baht, outstanding public debt to GDP at the end of fiscal year 2024 from the implementation of the plan. offered this time It is still within the public debt management framework set by the State Monetary and Fiscal Policy Committee at not more than 70 percent.
A spokesman for the Prime Minister's Office said that the fiscal year 2024 plan includes four state enterprises: the National Housing Authority (NHC), Thanarak Asset Development Co., Ltd. (BMTA), the State Railway of Thailand (SRT), and the Mass Transit Authority. Bangkok (BMTA) that has a ratio of income-earning ability compared to the debt burden of the business less than 1 time can borrow money and manage debt under the plan. Fiscal year 2024, by asking the SRT and BMTA to expedite the implementation of the business rehabilitation plan and asking the SRT and BMTA to report progress and obstacles in implementing the agency's business rehabilitation plan. Public Debt Management Policy and Supervision Committee for further information
Source: Thai News Agency