The Ministry of Finance (MOF) announced via the royal gazette on Friday that the Bank of Thailand (BOT)’s liabilities have reached 6.13 trillion baht.
The announcement was based on BOT’s annual financial report to the MOF.
The report shows that the BOT’s liabilities have amounted to 6.13 trillion baht (US$200 billion) as of April 9, 2020.
International reserves
The BOT reported on Friday that the country’s international reserves stood at 7.54 trillion baht ($239.4 billion) as of June 5 with a net forward position of $27.3 billion.
The BOT’s net credit to the government reached 104.6 billion baht.
The BOT’s net credit to financial institutions and other sectors reached -5.92 trillion baht.
Their monetary base, which includes notes and coins in circulation and deposits of financial institutions at the central bank, reached 2.15 trillion baht.
Public debt
The public debt to gross domestic product (GDP) ratio stood at 42.88 per cent on April 30 in comparison to 42.19 per cent at the end of 2013.
The total public debt outstanding was at 7.19 trillion baht from a GDP of 16.76 trillion baht. Of that, 97.36 per cent or 6.99 trillion baht is domestic debt.
In April, the Public Debt Management Office proposed an increase in the budget for public debt to 1.49 trillion baht or 51.84 per cent of the gross domestic product.
About 890 billion baht will be used for the management of existing debt. This includes the 600 billion baht loan from the one trillion baht emergency loan decree.
The added 600 billion baht will send the public debt from the current standing at 41.44 per cent to 51.84 per cent by the end of 2020, the office estimated.
The remaining 400 billion will send the public debt to 57.69 per cent by the end of 2021, they added.
The estimation for the public debt to ratio is based on the projection that the country’s GDP will be able to expand by 3 per cent in 2021.
The new estimation of 58 per cent is still below the 60 per cent fiscal security ceiling, the public debt office said.
