Thailand plans to cut borrowing to B2.23t

Thailand plans to cut borrowing to B2.23t

People visit Yaowarat district, one of Bangkok's main street food attractions, on Sept 17, 2022. (Photo: Wichan Charoenkiatpakul)
People visit Yaowarat district, one of Bangkok's main street food attractions, on Sept 17, 2022. (Photo: Wichan Charoenkiatpakul)

The government plans to borrow 2.23 trillion baht (US$60 billion) in the fiscal year starting Oct 1, about 3% less than its target this year, as the country rolls back Covid-related spending, according to people familiar with the matter.

The debt-raising will include 793.6 billion baht of fresh borrowing to meet the fiscal deficit and 1.44 trillion baht for refinancing and restructuring existing debt, the people said, declining to be identified before a public announcement. 

The targets were discussed by the Public Debt Management Office (PDMO) with the primary dealers and market participants on Wednesday, they said.

PDMO chief Patricia Mongkhonvanit could not immediately be reached for comment. 

The borrowing plan for the next financial year will include a maximum bond issuance of 273 billion baht in the October-December period, the people said. That is more than the 263 billion baht raised from bonds in the July-September period.  

The borrowing plan for 2022-23 includes 1.09 trillion baht of sovereign bonds, 140 billion baht via bond switching, 540 billion baht of Treasury bills, 130 billion baht of savings bonds and about 34 billion baht in overseas borrowing. Promissory notes and term loans may make up about 301.4 billion baht, the people said.

Patricia Mongkhonvanit, director-general of the Public Debt Management Office, under the Ministry of Finance. (Photo: Varuth Hirunyatheb)


Do you like the content of this article?
COMMENT (3)

Pheu Thai disagrees with Prayut ruling

The opposition Pheu Thai Party has expressed disagreement with the reasoning behind the Constitutional Court ruling that Gen Prayut Chan-o-cha’s tenure as prime minister did not begin until 2017.

19:48

12 sailors die on ship off Vietnam

HANOI: At least 12 sailors on a Chinese-flagged cargo ship have died of suspected food poisoning off Vietnam’s southern coast, a government official said on Friday.

19:01

Made-in-India high-speed rail expands

AHMEDABAD, India: Prime Minister Narendra Modi on Friday launched a third Indian-made high speed train in his home state of Gujarat, as a part of plans to modernise the country’s rail network.

18:35