August public debts at 44.63% of GDP

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Thailand’s public debt in August was Bt5.3 trillion, or 44.63 per cent of gross domestic product (GDP), according to a senior Finance Ministry official report.

Chularat Suteethorn, director general of the Public Debt Management Office, said public debt originated from the government at Bt3.678 trillion, non-financial state enterprises at Bt1.097 trillion, special financial institutions at Bt524.133 billion and autonomous agencies at Bt834.69 billion.

The Financial Institutions Development Fund was debt free.

Public debt in August increased by Bt74.276 billion from July.

Ms Chularat said the Bt5.3 trillion public debt constituted international debts at Bt375 billion or 7.09 per cent, and domestic debts at Bt4,924 billion or 92.91 per cent.

Somchai Sujjapongse, director general of the Fiscal Policy Office, said the government’s revenue for the 2013 fiscal year was Bt2,156 trillion, exceeding the target by Bt57.4 billion or 2.7 per cent, and higher than last year’s revenue by 9.2 per cent.

The major contributing factor was revenue from autonomous agencies which was Bt47.8 billion or 45.7 per cent higher than projection, partly thanks to the high revenues from petroleum concessions and third-generation frequency (3G) biddings.

He said the revenue in the 2013 fiscal year, which was Bt50 billion over target, has strengthened Thailand’s financial stability and economic expansion for the next budget year.