Amendment to public debt management plan approved

The Nation looks at what the government intends to do with this additional 560 billion baht.

Under the fiscal 2024 plan, the government plans to incur new debts in three categories, as follows:

1. Government’s new debts, increasing from 97.43 billion baht to 603.21 billion baht, or by 505.77 billion baht. The amount has been significantly adjusted upwards due to the domestic loans of 424 billion baht to compensate for the deficit in fiscal 2024. These loans will also allow disbursement of budgets while the Fiscal 2024 Act has yet to be enacted. That should take place in April.

The rest of the debts in this component are foreign loans to support various government projects. These include highway no 7 connecting U-Tapao International Airport, the public health service development project, the scientific research of Synchrotron Light Research Institute, and a short-term loan for financial liquidity management.

2. State enterprises’ new debts, increasing from 96.99 billion baht to 128.499 billion baht, or by 31.5 billion baht. This money will go to finance state enterprises’ projects and/or their general operations. Agencies that will benefit include the Electricity Generating Authority of Thailand, the Dairy Farming Promotion Organisation of Thailand, the Government Pharmaceutical Organisation, and Bangkok Dock Ltd.

3. New debts for other state agencies for their projects or general operations of 23 billion baht. These agencies include the Oil Fuel Fund Office and the General Insurance Fund.

Government spokesperson Chai Wacharonke said on Tuesday that the amendment to the public debt management plan complies with related laws, especially the State Fiscal and Financial Disciplines Act of 2018, which set the threshold of public debts to be incurred by the government.