Warning on public debt | Bangkok Post: business

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Warning on public debt

World Bank says rising expenses need scrutiny

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The country could save expenditures for stimulus programmes to fund social welfare and enact policies to reduce inequality and raise the skill level of the population, says the World Bank. 

The bank expects Thai public debt to reach 50% of gross domestic product (GDP) by the end of 2013, up from 45% at the end of this year.

The rapid increase in public debt from hidden liabilities and continued consumption spending could eat away funds for social investment, although so far it remains under control.

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