The Public Debt Management Office (PDMO) has proposed reworking the principal payment to at least 2% of the government debt obligation, aiming to pay it off within 50 years. Moreover, related debt obligations consist of direct liabilities and state enterprise debt guaranteed by the government, which forms a part of outstanding public debt. The country's outstanding public debt totalled 6.46 trillion baht, representing 41.3% of GDP at the end of February, while the government debt obligation was 4.59 trillion. The draft on the Fiscal Responsibility Act, which was approved by the National Legislative Assembly and is pending the royal endorsement, entails a wide framework for debt principal payment. He said setting the debt principal payment ratio based on the annual budget is an issue that has long been debated.

Source: Bangkok Post April 15, 2018 23:26 UTC