Thailand’s public debt equals nearly 60 percent of GDP

Thailand’s public debt equals nearly 60 percent of GDP. (Photo: https://www.bangkokpost.com)

Bangkok (VNA) – The Public Debt Management Office of Thailand reported that as of December 30, 2021, the country’s public debt stood at 9.64 trillion THB (about 293 billion USD) or 59.57 percent of the national GDP.

The office said public debt had surged by 20 billion THB in December compared to November last year, though the public debt-to-GDP ratio decreased to 59.57 percent from 59.58 percent against the previous month.

Thailand’s GDP expanded after COVID-19 restrictions were eased, the office said.

In September last year, the Monetary Policy Committee, chaired by Thai Prime Minister Prayut Chan-o-cha, decided to raise the public debt-to-GDP ratio from 60 percent to 70 percent.

At the end of the 2021 fiscal year (September 30, 2021), the Thai cabinet was informed that the Southeast Asian nation’s public debt stood at 9.34 trillion THB./.