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Outstanding public debt amounts to 49.34 per cent of GDP


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Outstanding public debt amounts to 49.34 per cent of GDP

By THE NATION

 

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The country’s outstanding public debt stands at Bt7.84 trillon, or 49.34 per cent of gross domestic product (GDP), a Ministry of Finance announcement said on the Royal Gazette website on Friday.

 

 

The ministry reported on the public debt situation as of September 30, as well as on government loans and guarantees from April to September 2020.

 

The report said that as of September 30, public debt comprised Bt6.73 trillion of government debt, Bt795.98 billion of state-owned enterprises (SOEs) debt, Bt309.47 billion of debt at government-guaranteed financial SOEs – which refers to a state enterprise that undertakes lending business, asset management and credit guarantees – and Bt7.82 billion of other government agencies debt.

 

The report also divided public debt into long-term and short-term ones based on the deadline for the debt to be paid. Bt6.77 trillion, or 86.26 per cent, of total public debt has a deadline of more than a year, while Bt1.07 trillion, or 13.34 per cent, must be paid in less than a year.

 

Based on origin Bt7.704 trillion, or 98.22 per cent, is domestic debt while Bt139.39 billion, or 1.78 per cent, is overseas debt.

 

Source: https://www.nationthailand.com/news/30398734

 

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-- © Copyright The Nation Thailand 2020-11-29
 
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9 hours ago, canopus1969 said:

Is that all, am surprised it is that low - those numbers would make the West jealous

 

It's not! In my experience The Thai Public are drowning in debt factors borrowing off Peter to pay back Paul. To even bring the west into compare is like comparing diamonds and coal.

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A mid-year article from the paper that can't be cited indicated that the public debt ended 2019 at 41%, and could go as high as 57% in 2021 (and this last figure is surely guesswork). This is the best I can come up with by a quick search, I'd like to find a good chart.

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6 hours ago, Barnabe said:

This is just government debt, not private. Private debt will be much higher.

But let’s not kid ourselves, these are amazing numbers compared to any western country.

If the West had only 50% government debt they would think there had been a heavenly intervention.

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2 hours ago, Scot123 said:

It's not! In my experience The Thai Public are drowning in debt factors borrowing off Peter to pay back Paul. To even bring the west into compare is like comparing diamonds and coal.

Internal debt isn't as dangerous as a government's external debt

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