Cabinet adjusts debt management plan for fiscal year 2024, borrowing an additional 560 billion baht

House, Cabinet approves public debt management plan, budget 2024, additional borrowing of 560 billion baht, maintaining public debt target of 61.29 percent to GDP, within the 70 percent range. Mr. Chai Watcharong, spokesman for the Prime Minister's Office, revealed that the Cabinet meeting Approved the first revision of the public debt management plan (plan) for fiscal year 2024, consisting of 1. New debt creation plan, increased by 560,276 million baht (from the original 194,434.53 million baht, increased to 754,710 million baht) 2. Existing debt management plan, increased by 387,758. million baht (from the original 1,621,135.22 million baht, increased to 2,008,893 million baht) and 3. Debt repayment plan increased by 9,075 million baht (from the original 390,538 million baht to 399,613 million baht). The Cabinet acknowledged the 5-year medium-term loan needs plan (fiscal years 2024 - 2028) and assigned the host ministry to coordinate with the state enterprises under its control. If you still lack readine ss, adjust your plan. To accelerate investment in government infrastructure Assigned to the Ministry of Finance Consider taking out a loan How to borrow money Loan conditions Guarantees and risk management If state enterprises can borrow money themselves To be carried out as appropriate and necessary for that state enterprise. The Public Debt Management Policy and Supervision Committee Meeting No. 3/2023 (13 December 2023) resolved to approve the first revision of the public debt management plan (Plan) for fiscal year 2024, such as increasing the loan limit to compensate for the budget deficit. Fiscal year 2024 (loan to compensate for budget deficit Fiscal year 2023 for the time being) in the amount of 424,000 million baht. An increase in the debt restructuring limit for government loans due in the fiscal year 2025 - 2028 in the amount of 399,000 million baht. An increase in the short-term loan limit to strengthen the situation. Streamlined in the form of Credit Line to renew short-term loans from the Electr icity Generating Authority of Thailand in the amount of 30,000 million baht. Increasing the long-term loan limit to enhance liquidity for the Oil Fund of the Oil Fund Office by 20,000 million baht due to the increase in world oil prices. and the end of the measure to reduce excise tax on diesel fuel. Resulting in the fund having to compensate more, etc. The plan improvement this time has a project development project. Must submit 56 projects/items for approval to the Cabinet. The committee has reduced the 5-year medium-term borrowing project (fiscal year 2024 - 2028) by 42 projects. It is expected that the estimated level of outstanding public debt to GDP is at 61.29 percent (frame not exceeding 70 percent) and there is 1 state enterprise with a DSCR less than 1 time that must be submitted for approval to the Cabinet, namely the National Housing Authority, which has a DSCR equal to 0.57 times. Source: Thai News Agency