BANGKOK : Thailand's fiscal position remains strong and it can raise its public debt ceiling if necessary, the country's finance minister said on Wednesday, as the Southeast Asian nation deals with its worst COVID-19 outbreak to date.
Despite significant borrowing to fund the outbreak response, the country's ratio of debt to gross domestic product was still low compared to peers at 56per cent, and expected to remain below its 60per cent ceiling at the end of this fiscal year to September, Arkhom Termpittayapaisith told a business conference.
The government will work hard to stimulate the economy, especially by gradually reopening the country, to keep its GDP growth target of 4-5per cent next year, he said. The government has introduced various stimulus and relief measures since the pandemic with a total of 1.5 trillion baht borrowing, of which, 500 billion baht was approved this year.
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