Arkhom warns of retirement crisis
Covid-19 exacerbates high household debt
Finance Minister Arkhom Termpittayapaisith is concerned a great number of Thais risk an uncomfortable retirement as nearly 40% of the population is prone to spend rather than save.
He said the Covid-19 outbreaks have worsened Thailand’s fragile household debt levels.
Speaking yesterday at a seminar on financial literacy, Mr Arkhom said Thailand’s household debt surged to 86.6% of GDP in the third quarter of 2020 because of the impact of the outbreaks, up from 78.9% in the same…