Thailand increases debt plan for current fiscal year

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Thailand increases debt plan for current fiscal year

 

FILE PHOTO: Thai baht notes are seen at a Kasikornbank in Bangkok, Thailand, May 12, 2016. REUTERS/Athit Perawongmetha

 

BANGKOK (Reuters) - Thailand's cabinet on Tuesday approved a higher debt management plan of 1.54 trillion baht ($51.32 billion) for the current fiscal year to September to help facilitate borrowing for coronavirus relief measures, a government spokesman said.

 

The new debt plan, which was increased from 1.465 trillion baht, also included borrowing for financing the budget deficit and state enterprise projects, Anucha Burapachaisri said in a statement.

 

In the fiscal year the government plans to borrow about 76 billion baht under a larger 1 trillion baht borrowing plan to mitigate the impact of the coronavirus epidemic.

 

The new debt plan will increase the country's public debt to gross domestic product (GDP) to 56.74% at the end of September, still below the 60% limit, Anucha said.

 

The debt was at 52.13% of GDP at the end of 2020.

 

($1 = 30.01 baht)

 

(Reporting by Kitiphong Thaichareon and Orathai Sriring; Editing by Martin Petty)

 

-- © Copyright Reuters 2021-02-24

 

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