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New plans for managing Thailand’s 2020 public debt

Anukul

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FILE PHOTO: thephuketnews.com

The Thai Cabinet has approved new plans for managing the fiscal 2020 public debt that was previously proposed by the Ministry of Finance. Deputy Government spokesperson Traisulee Traisaranakul announced that… “according to the new plans, the amount of ‘new’ debt has been adjusted up to 1.497 trillion baht from 894.005 billion baht.”

“The plan for the management of ‘existing’ debt has been adjusted up to 1.035 trillion baht from 831.15 billion baht.”

“And lastly, the ‘debt-repayment’ plan has been adjusted down to 389.373 billion baht from 398.372 billion baht,” according to Nation Thailand.

“The increase in new debt totalling over 603 billion baht aims to be consistent with the emergency decree that allows the Ministry of Finance to borrow money for rehabilitating the economy and society due to the impact of the Covid-19 outbreak.”

The Cabinet has also approved plans to adjusted the new debt of state enterprises up by 18.702 billion so that agencies that will have their loan limit lowered.

Agencies whose loan limits will be decreased are…

  • Port Authority of Thailand (down 4 billion baht)
  • Provincial Waterworks Authority (down 1.92 billion baht)

While agencies whose loan limits will be increased are…

  • Electricity Generating Authority of Thailand (up 4 billion baht)
  • Provincial Electricity Authority (up 8.3 billion baht)

Internal loans have also been rearranged and adjusted down by 17.201 billion baht, from 85.357 billion baht to 68.155 billion baht. While Mass Rapid Transit Authority of Thailand gets an additional 1.061 billion baht, State Railway of Thailand loans are cut by 18.262 billion baht.

SOURCE: Nation Thailand

 

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My name is Anukul, I a writer for the Thaiger, I specialise in translation articles and social media, and assisting with our video production. I previously worked at Phuket Gazette and attended BIS international school in Phuket.

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