Thailand's fiscal status is improving thanks to a gradual economic recovery following the pandemic, which may prompt the government to lower the ceiling of the public debt-to-GDP ratio from the current 70%, according to the Public Debt Management Office (PDMO).
Speaking on Monday after a meeting of the State Monetary and Fiscal Policy Committee chaired by the prime minister, PDMO director-general Patricia Mongkhonvanit said Thailand's overall public debt is at a normal level.
"The public debt status is considered under control right now. Compared with the previous forecast, the rate is much lower than the committee's expectations thanks to the country's economic expansion after the years-long Covid-19 restrictions," she said.
