Tax & Spend
Thailand to Boost Borrowing by 8% to $78 Billion to Spur Growth
- Debt officials met with bond traders, fund managers on Monday
- New prime minister is pushing for urgent economic stimulus
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Thailand plans to raise government borrowing by about 8% in the fiscal year starting October to aid economic growth, according to people familiar with the matter.
About 1.1 trillion baht ($33 billion), or 41% of the total $78 billion, will be fresh borrowing to mainly finance the budget deficit, while the rest has been earmarked for refinancing and restructuring of existing debt, said the people, who declined to be identified as they aren’t authorized to discuss the information before it’s made public. The Public Debt Management Office held a meeting with bond traders and fund managers on Monday in Bangkok, according to the people.