Finance Ministry Says Thailand Won't Repeat France Debt Crisis
The user wants a short summary (1-2 sentences, 120-220 chars, max 240) of the Thai article provided. The summary must be in English only, factual, plain English, lead with what happened, then the most important detail (who, where, when). No
The Finance Ministry affirmed that Thailand will not follow France's path of violent protests over debt and budget deficits, pointing to high fiscal buffers and no cuts to essential public welfare. It also aims to submit a household rooftop solar project to the Cabinet this month.
October 1, 2026 – Following violent protests in France stemming from economic problems, budget imbalances, and high public debt, doubts arose whether Thailand could face a similar situation. Lavaron Sangsnit, Permanent Secretary of the Finance Ministry, revealed the fiscal direction and status on this issue, stating that Thailand currently maintains fiscal stability. Thailand's fiscal status differs from France, as Thailand still has high fiscal buffers and the government emphasizes strict fiscal discipline, a matter Deputy Prime Minister and Finance Minister Pichai Chunhavajira prioritizes greatly.
Lavaron said the impacts seen abroad resulted from cuts to public welfare budgets or reduced service quality, but Thailand maintains its welfare spending and public care at the same level. Thailand focuses on controlling leaks and cutting unnecessary expenditures instead.
Lavaron added that Thailand's fiscal strength continues to be certified by three global credit rating agencies, which express confidence in Thailand's economy and fiscal status. They acknowledge Thailand's long-standing fiscal discipline, leading to upgraded credit ratings.
"Accumulated debt is a long-standing issue that takes time to manage, but the government emphasizes the principle of not incurring new debt unnecessarily. If borrowing is necessary, borrowing itself is not the main issue; what matters is that funds are used for projects that truly benefit the country and are efficient," the Permanent Secretary stated.
Lavaron also discussed progress on the household rooftop solar installation project, saying the project screening subcommittee has met continuously for 3-4 days and will hold additional meetings to prepare for submission to the Cabinet. The focus is on interlinked projects, such as various Smart systems, to expand outcomes and enhance efficiency together. The matter has passed subcommittee review 2-3 times to scrutinize details rigorously and build public confidence.
When asked if it can be submitted to the Cabinet this month, the Permanent Secretary said it likely will be this month.
Regarding progress on electric vehicle (EV) tax measures that would raise taxes on imported EVs, Lavaron said the matter is currently in the preparation stage for submission through the proper process. All matters must await clarity from the Deputy Prime Minister and Finance Minister, who will decide on this issue.
