Thailand Mulls Higher Public Debt for $30 Billion Borrowing

Thailand’s government may lift a voluntary ceiling on public debt to open room for additional borrowing of about $30 billion to fund measures to shore up an economy hit by global energy shocks, according to people familiar with the matter.

Officials from the finance ministry and Prime Minister Anutin Charnvirakul’s office are discussing raising the ceiling to 75% of gross domestic product from the current 70%, said the people, who requested anonymity ahead of an official announcement. A higher debt cap is among several options under discussion, and a decision will need the approval of the fiscal and monetary policy committee headed by Anutin, they said.