DEBT PLAN APPROVED

Economy March 21, 2018 01:00

By The Nation

The Cabinet yesterday agreed to a revised public debt management plan for the 2018 fiscal year that will raise Thailand's estimated public debt to the country's gross domestic product, from 42.7 per cent to 42.8 per cent, for the year.



Nattaporn Jatusripitak, minister adviser to Prime Minister's Office, said that the revised plan came after this fiscal year's supplementary budget of Bt150 billion, which has prompted additional, planned government and state-enterprise borrowings totalling Bt95.74 billion.

The debt service to the budget is estimated to be reduced to 8.6 per cent from 9 per cent, which remains within the Ministry of Finance's sustainable framework for the budget. 

The Cabinet also approved a plan by Government Savings Bank to provide loans for low-income earner at a total of Bt10 billion, with interest at 0.85 per cent per month, said Nattaporn, adding that a budget had been set aside for non-performing loans worth Bt4 billion.