PUBLISHED : 12 Feb 2024 at 12:44
The government will set up an asset management firm in the first quarter of this year to help resolve the stubborn problem of high household debt, Prime Minister Srettha Thavisin said on Monday.
Household debt management had many challenges, with some creditors refusing to enter the process, he told a press briefing on debt.
Thailand has one of the region’s highest ratios of household debt, at 90.9% of gross domestic product as of the end of the 2023 fiscal year on Sept 30. Use of illegal loan sharks is rife among lower-income families unable to get bank loans, with many people trapped by debt with high interest rates.
The asset management firm would be set up by the Government Savings Bank and would…
