The Finance Ministry has conceded for the first time it will take the government 50 years to repay the 2 trillion baht in borrowing aimed at overhauling the country's infrastructure that the cabinet approved yesterday.
Finance Minister Kittiratt Na-Ranong and chief Democrat Party critic Korn Chatikavanij in a rare, light moment as political battle lines form over the huge loan proposal. (Photo by Patipat Janthong)
Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said on Tuesday that the loans, which will be sought from domestic and international financial sources, will put Thailand's public debt at less than 50% of gross domestic product (GDP), a level that will not harm fiscal discipline. Repayment is planned over 50 years.
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