Thailand Planning $1.6bn Bond Issue to Plug Deficit


Thailand plans to issue 55 billion baht ($1.61 billion) of government savings bonds this month to help finance a budget deficit, a Finance ministry official said.

The bonds will go on offer between June 13 and June 30 and will be the last batch of a record 165 billion baht issue planned for the current fiscal year ending September, up 33% from the previous year.

Five-year and 10-year bonds will be offered to the public with yearly average coupons of 2.9% and 3.6%, respectively, said Patricia Mongkhonvanit, head of the ministry’s public debt management office (PDMO).

Last month, the government approved the overall borrowing of 1.4 trillion baht for the 2022 fiscal year. For the 2023 fiscal year starting in October, total borrowing should be lower as there would be no special borrowing for pandemic response measures, Mongkhonvanit said.



Thailand Public Debt

Thailand’s overall public debt carries an average interest rate of 2.3% per year, she said.

With interest rates on an upward trend, the PDMO has largely shifted to fixed-interest rate borrowing from floating ones.

Thailand’s economy expanded 2.2% in the first quarter from a year earlier, its National Economic and Social Development Council said, as the kingdom lagged behind its Association of Southeast Asian Nations peers.

“A revival is seen in tourism and services exports but is still a long way to full recovery,” Chua Han Teng, economist at DBS Group Research, said.


  • Reuters, with additional editing by George Russell




Tesla Preparing to Sell EVs, Solar in Thailand – Electrek

ADDX Raises $58m, Teams Up With Thai Stock Exchange

ThaiBev Seeks More Modest Fundraising From Singapore IPO


George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

Recent Posts

China, India Imports of Russian Oil Surge to Record Highs

The world's No1 and No3 crude importers bought about 110 million barrels of Russian crude…

1 hour ago

Indonesia’s Mining, EV Battery Plans Get $9 Billion Boost

The investment, from a British consortium that includes mining giant Glencore, will go into a…

3 hours ago

Nvidia Feels ‘Perfectly Safe’ Relying Heavily on Taiwan Chips

"The process of diversifying in different geographies is an excellent strategy by TSMC and so…

4 hours ago

Foreigners Pulled $1.7 Billion Out of China Shares in May

Refinitiv data shows foreigners sold $1.71 billion worth of mainland shares via Stock Connect in…

4 hours ago

Singapore Tech Giant Sea Pulls Plug on Investment Arm

Sea Capital had invested in collapsed cryptocurrency exchange FTX and its parent had seen its…

5 hours ago

China Starts Drilling 10,000-Metre Deep Hole in Xinjiang – Xinhua

State media hailed the effort as "a landmark in China's deep-Earth exploration" that provides "an…

5 hours ago