Thailand Debt Ratio Reaches 35 Percent

Thailand's debt levels have been at 7% for approximately 27-28 years, increasing by nearly 30 years. However, no past debt cycle has been as severe as the current one, despite political uncertainty regarding potential tax increases to 10%. The Ministry of Justice is reviewing a share buyback agreement signed six years ago by Mr. A speaker from Thailand expressed concerns about high taxes and rising oil prices, stating that money will be insufficient. There are concerns about expanding Thailand's national bonds, as it could jeopardize the country's credit rating and increase financing costs for businesses and individuals. Large corporations are shifting focus from accelerated investment to managing risks and maintaining financial health due to global economic uncertainty. The Railway of Thailand has accumulated a debt of 280 billion baht. The increase follows government spending used to support the economy during the COVID-19 pandemic. The report noted concerns regarding non-monetary debt involving policies where banks pay insurance premiums in advance. These policies are described as semi-mandatory rather than strictly compulsory. The broadcaster noted that certain policies, such as semi-mandatory insurance premium prepayments, are causing concern as they fall outside standard national debt classifications. These fiscal measures were implemented to provide economic support, particularly following the impact of COVID-19.