Bank of Thailand says increased public debt ceiling to help economy – Bangkok Post

Thailand’s increased public debt ceiling will give flexibility in policy implementation to cope with the coronavirus and support the economy as fiscal measures are still necessary, the central bank said on Tuesday.

The government on Monday raised the debt ceiling to 70% of gross domestic product (GDP) from 60%, allowing it to raise more funds to help a flagging economy with the key tourism sector still struggling.

The risk to fiscal stability is low as the new debt ceiling is not too high and most of the public debt is domestic with borrowing costs, Deputy Governor Mathee Supapongse said in a …

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