Bangkok Post – State revenue collection falls short of target

Government revenue collection has missed the target, signalling an economic slowdown, largely attributed to diminished purchasing power caused by high interest rates, says permanent finance secretary Lavaron Sangsnit.

Higher interest rates have affected people’s purchasing ability, particularly those looking to buy cars or homes, Mr Lavaron said. While demand exists, people’s ability to make monthly loan repayments diminished because of elevated interest rates, he said.

This led to some loan rejections by financial institutions, he said.

The decline in car and…