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The government is resurrected in 2021, it touches 3 trillion baht! Incurring new debt Break the 1.64 trillion baht story with a follow-up order Delayed investment plans
Today (October 12), news from the Public Debt Management Office (PDMO) has revealed the public debt management plan for fiscal year 2021 that has been approved by the Cabinet (Cabinet) with General Prayut. Chan-ocha, prime minister and defense minister, is the president. The debt management limit is approximately 3 trillion baht.
The debt management plan for fiscal year 2021 consists of Generation of new debt of 1.64 trillion baht and debt to restructure old debt maturing another 1.27 trillion baht, most of which are internal loans.
The new 1.64 trillion baht debt is directly loaned by the government for 1.34 trillion baht. Loan to make up for the 2021 budget deficit of 6.23 billion baht, under the COVID Recovery Act, 5.5 billion baht, to allow state-owned companies to borrow at 7.4 billion baht and to manage the liquidity of the treasury of 9.9 billion baht.
The rest of the new debt is the borrower from state enterprises 1.17 billion baht for working and investment capital. And the loan from other agencies 1.808 billion baht for the old debt restructuring loan of 1.27 trillion baht, which is the old debt restructuring loan that the government borrows directly at 1.09 trillion baht and the state-owned companies recover 1.37 trillion baht.
In addition, in the Public Debt Management Plan for 2021, the Ministry of Finance proposed to the Cabinet to follow a 5-year medium-term investment debt plan (2021-2025) based on the original plan of 389 projects with a value investment of 1.2 trillion baht.
However, 56 projects have not been delayed, resulting in the remaining 182 investment projects worth 8.91 billion baht, a decrease of 3.81 billion baht or a decrease of 30%, which will affect the improvement of competitiveness. From the country
And affecting the trembling economic stimulus, which is an urgent matter, the Treasury therefore urges the Cabinet to speed up the body responsible for the investment project. To streamline investment projects In fiscal year 2021, there is a budget for debt repayment of 2.93 billion baht, a principal payment of 9.9 billion baht, and a loan of 1.94 billion baht. baht.
Recently, the MPC reported that the last national public debt in August 2020 was 7.66 trillion baht or 47.90% of GDP, when combined with the new debt financing plan for fiscal year 2021, another 1 , 64 trillion baht will constitute the fiscal year of the public debt. 2021 up to 9.3 trillion baht, which previously The Treasury insists that at the end of fiscal year 2021, the share of public debt will be 57% of GDP, even within the fiscal discipline of no more than 60% of GDP.
For the public debt management plan for fiscal year 2020, the plan has been revised 2 times, with the second time that there is a borrowing in case of expenditures of more than 2.14 billion baht after the borrowing total deficit of 4.69 billion baht. It is not enough for expenses because the revenue collected is less than the estimated 3.9 billion baht.
Make fiscal year 2020 a new debt of 1.65 trillion baht, a restructuring of the old debt of 9.68 billion baht, while the 2019 budget debt management plan There was a new debt of 8.06 thousand million baht incurred in the previous debt restructuring and the fiscal year 2018 debt management plan. There is new debt of 7.6 million baht, resulting in restructuring of the previous debt 9.99 million baht .
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