Thailand’s government announced that the public debt-to-GDP ratio will remain below the 70% legal limit from 2025 to 2028 under a revised budget framework. FY25’s total expenditure will increase by 152.7 bln baht to fund economic stimulus, leading to a public debt-to-GDP ratio of 66.93%. The FY25 budget deficit is expected to rise to 4.42% of GDP from an estimated 3.71% in FY24.