Bank of Thailand calls for additional $30 billion borrowing
Debt totalled 54% of GDP by June, putting pressure on the 60% ceiling
The Bank of Thailand (BoT) has urged the government to borrow another 1 trillion baht ($30 billion), or 7% of the country’s GDP, to boost growth as the economy grapples with a resurgence of Covid-19.
Despite the large amounts, the bill will be “manageable”, said governor Sethaput Suthiwartnarueput in a press briefing, the Bangkok Post reported on August 16.
Low borrowing costs, healthy budgetary surplus and ample liquidity in the market justified the proposed debt, the governor said.
Thaila
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