Thai Deputy Prime Minister: Thailand plans to pass a law to borrow $156 billion USD and raise the debt limit.

A deputy prime minister of Thailand stated on Monday that the Thai government plans to introduce a special bill to borrow 500 billion baht to address domestic economic issues. Pukn Nipplaplant told the media that the borrowing plan has a reasonable basis because the government's cash balance is tight and external risks and environmental risks continue to rise. He added that the actual borrowing amount may be lower than the legal limit of 500 billion baht, but according to the National Public Debt Management Regulations, the overall debt ceiling still needs to be raised to match the full amount proposed in the bill. Pukn stated that the current size of Thailand's public debt is about 66% of the gross domestic product, approaching the current debt ceiling of 70%, so it is urgent to raise the limit. He said that because the fiscal space is very limited, the Ministry of Finance will finalize a new limit on public debt.