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Public Administration News  
Thailand’s Public Debt Drops to 42% of GDP
Source: balita.ph
Source Date: Thursday, December 23, 2010
Focus: Institution and HR Management
Country: Thailand
Created: Dec 28, 2010

Thailand’s public debt as of the end of October stood at Bt 4.201 trillion or 42.01 per cent of the country's gross domestic product (GDP), down Bt29.42 billion from the previous month, according to Public Debt Management Office Director-General Chakkris Parapuntakul.

Of this, Bt2.89 trillion are loans entered into directly by the government, down Bt15.83 billion, Bt1.07 trillion are debts incurred by non-financial institution state enterprises, down Bt11.61 billion, Bt175.2 billion are debts of state-owned financial institutions guaranteed by the government, down Bt1.98 billion, and Bt62.09 billion are debts incurred by the Financial Institutions Development Fund, down Bt8.23 million.

Mr Chakris said that other state agencies have no outstanding debt.

He said the decline in loans sought directly by the government stemmed mostly from redemption of fiscal bills worth Bt37.29 billion.

US dollar-denominated outstanding debt increased by US$ 54.91 million due to the volatility of the currency exchange rate.

The loan drawdown in Japanese yen was lower than the redemption by 1.229 billion yen or US$ 15.23 million.

The debt incurred by non-financial institution state enterprises dropped because the Bangkok Mass Transit Authority and the National Housing Authority redeemed bonds worth Bt2 billion.

In addition, the Expressway Authority of Thailand issued Bt1 billion in bonds and redeemed bonds worth Bt2.4 billion.
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