The Public Debt Management Office expects public debt to reach 68% of GDP at the end of fiscal 2026, a record, but still under the 70% ceiling. Government borrowing costs average 2.6% and are expected to stay flat in fiscal 2027. The cabinet approved 1.26 trillion baht of new borrowing for fiscal 2027, including a second 200 billion baht energy loan. Projects queued for that loan are public-facing solar, EV buses and motorcycles, and staff upskilling/reskilling. For a small business, the practical signals are possible state-backed demand in solar and EV, and training subsidies to watch. Nothing requires action yet; no new deadlines are stated.