🇹🇭 Thailand
Public Sector Debt · 2026
Total Debt
72.4%
of GDP
Global Rank
#59
of 192
S&P Rating
A-
Credit rating
SOE Debt
+5.7%
1 categories
Where the Debt Sits
Central Government
Subnational
Central Government: 57.8%Subnational: 8.9%Public Corps: 5.7%
Who Holds This Debt
Holder Breakdown
Domestic 85%
Foreign 15%
Domestic: 85%Foreign: 15%
Currency Denomination
Local 97%
Local currency: 97%Foreign currency: 3%
Full Debt Breakdown
Central Government57.8% of GDP
Central GovernmentIMF WEO — General Government Debt
57.8%Subnational / Regional8.9% of GDP
SubnationalIMF WEO — General Government Debt
8.9%Public Corporations5.7% of GDP
State enterprise debt (all SOEs)Thailand PDMOTHB 1.052T. Formally tracked by PDMO as component of public debt.
5.7%Total Corporate Debt78.8% of GDP
Nonfinancial corporate debt (total)BIS Credit Statistics Q3 2025PTT Group, EGAT, Thai Airways. SOE portion ~8-12%.
78.8%Household Debt87.2% of GDP
Household debtBIS Credit Statistics Q3 2025Very high for an emerging economy. Auto loans, mortgages.
87.2%Unfunded Pension Liabilities55.0% of GDP
Civil service unfunded pension (est.)World Bank Thailand Assessment 2023; ILO; OECDAnnual cost 1.7% GDP, doubled since 2008, projected 2.4% by 2060.
55.0%All Layers Total293.4%
Credit Ratings
S&P
A-
Moody's
Baa1
Fitch
BBB+
Data Sources
IMF WEO — General Government Debtgeneral_government · Updated semi_annual
Dec 202666.7% GDP
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