A view of the central bank in Bangkok. (Photo: Reuters)
The Bank of Thailand plans to implement new regulations for responsible lending to curb the country’s household debt problem over the long term.
The central bank released a directional paper on sustainable solutions to Thailand’s structural debt overhang problems, providing in-depth analysis of the issue.
The regulator wants to reduce the ratio of the country’s household debt to Thai GDP to a ceiling of 80% in the long term from the current 86.8%.
Over the past 12 years, the country’s household debt increased significantly from 59.3% in 2010, peaking at 90.1% in 2021, mainly attributed to the impact of the pandemic.
The ratio declined to 86.8% recently because GDP grew in…
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