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Public debts amount to 42.73 percent of GDP

Public debts at the end of 2016 budgetary year or September amounted to 6.9 trillion baht, representing 42.73 percent of the GDP, including about 400 billion baht in debts incurred by the Yingluck government's rice pledging scheme.

Mr Thirat Attanawanich, deputy director of the Public Debts Management Office, said, however, that the public debts were lower than the projection of 44 percent of the GDP. He attributed the reduction in public debts to the adjustment of debt repayment of the FIDF which has helped in the improvement of the efficiency in debt management coupled with the improved performance of some state enterprise resulting in the lowering of 70 billion baht in public debts.

Despite the 40 billion baht in revenue in rice sale, Mr Thirat noted that debts incurred by the rice pledging scheme remain at 420 billion bhat, representing 6.7 percent of public debts.

Public debts next year are expected to account for 45.5 percent of the GDP while the government projected that the debts would be further reduced by no less than 23 billion baht next year.

Ms Uppama Jaihong, director of the Bond Development Market, said that the Finance Ministry was preparing to issue savings bonds with maturity of 3 and 7 years during December 1 until next April. Interest rate will be similar to the rate charged by the bond market

Source: Thai Public Broadcasting Service (Thai PBS)