BANGKOK: Thailand has increased the ceiling of its public debt-to-gross domestic product ratio to 70 per cent from 60 per cent, the finance minister said on Monday , allowing the government to raise more funds to help a struggling economy.
The higher debt ceiling will provide room for the government to borrow more for fiscal policies in the medium term if required, while maintaining good debt servicing ability, Finance Minister Arkhom Termpittayapaisith said in a statement. Last month, Arkhom said Thailand's debt-to-GDP ratio was still low compared with other countries despite significant borrowing to finance the outbreak response.
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