Thailand to sell 60 billion baht of government savings bonds next month

THAILAND plans to sell 60 billion baht (S$2.3 billion) of government savings bonds next month to help finance a budget deficit, a finance ministry official said on Thursday (Nov 23).

The bonds will be offered between Dec 7 and 20, with three-and seven-year bonds offering a coupon of 2.3 per cent and 3.0 per cent per year, respectively, Patricia Mongkhonvanit, head of the ministry’s public debt management office, told a news conference.

Some 5 billion baht of 10-year bonds will give a coupon of 2.9 per cent, she added.

The government also plans to sell another 70 billion baht of savings bonds in the second quarter of 2023, Patricia said.

The country’s public debt to gross domestic product (GDP) ratio is expected to be below 60.43 per cent at the end of the current fiscal year ending September 2023, she added. REUTERS