BOT works to curb rising household debt

In addition to closely monitoring the situation, the BOT is pushing for long-term debt solutions, covering all stages of debt, including new debt creation, managing existing debt, and facilitating public access to the credit system.

Speaking at a media briefing on July 3, assistant governor of the BOT’s Financial Institutions’ Supervision Group Suwannee Jatsadasak said the central bank is focusing on support for debtors to facilitate their debt management.

The proportion of household debt to GDP has gradually declined from its peak during the Covid-19 period. As of the first quarter of this year, household debt stood at 16 trillion baht, accounting for 90.6% of GDP. The number of accounts and the amount of overdue debts exceeding 90 days resulting from the impact of Covid-19, have gradually decreased from their peak in October 2021 due to the acceleration of specialised…