Government gross debt in Thailand

International Monetary Fund · Annual · Importance

IMF forecast (WEO): 2026: 66.8% 2027: 67.8% 2028: 68.6% 2029: 69.1% 2030: 69.5% 2031: 69.7%

56.6 (1999) ANUAL · % of GDP · Annual · CSV

Period	% of GDP
Jan 1999	56.6
Jan 1998	49.9
Jan 1997	40.5
Jan 1996	15.2

About this indicator

Source

International Monetary Fund

Frequency

Annual

Release

Published annually (with quarterly advance estimates in some economies), subject to revision with the national accounts.

What it is

Government gross debt measures the total stock of financial liabilities (issued securities, loans and deposits) owed by Thailand's general government to its creditors. It is managed and published by the Public Debt Management Office (PDMO) under the Ministry of Finance.

How it's calculated

It is compiled by adding up general government liabilities consolidated across subsectors. The figure is reported both in absolute terms (billions of baht) and as a share of GDP, the key ratio for assessing sustainability against the ceiling set by Thailand's fiscal responsibility framework.

Market implications

A high or rising debt level weighs on the government's borrowing costs, its fiscal room for manoeuvre and the sovereign credit rating. Markets and rating agencies watch the trajectory of the ratio, which in Thailand has traditionally stood at moderate levels for the region.

Limitations

It is a low-frequency figure subject to revision alongside the national accounts. The debt-to-GDP ratio depends on both the debt stock and nominal GDP, so it can move without any change in borrowing; state-guaranteed debt and contingent liabilities are not always captured in the headline.