March 30, 2009
Bangkok (ASTV Manager Online) – Thailand’s public debt was up to 3.5 trillion baht in January, and this accounted for 39.31 percent of the country’s Gross Domestic Product (GDP) growth.
Increasing public debt was because the government borrowed more loans to add to its budget deficit.
Public debt would remain at 43-45 percent at the end of the fiscal year 2009 if the government successfully borrowed loans as planned.
Such calculation was based on zero percent of GDP growth.
Prime Minister Abhisit Vejjajiva welcomed Chinese Foreign Minister Yang Jiechi at the Government House on March 25.
It was rumored that the premier was planning to borrow more loans from China to enable the government’s economic stimulus scheme.
Nevertheless, Abhisit turned down the rumor, saying the government would look for other sources of loans.
Thailand’s foreign debt was totally 412,543 million baht (11.64%) whereas domestic debt valued 3.13 trillion baht (88.36%).
