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Thursday, June 13, 2024

FPO on a mission to tackle high debt, limit borrowing

Fiscal Policy Office director-general Pornchai Thiraveja

The Fiscal Policy Office (FPO) plans to discourage financial institutions from enticing consumers to unnecessarily create more debt as part of its efforts to curb high household debt levels over the long term.

FPO director-general Pornchai Thiraveja said the government will focus on two missions in tackling high debt levels. First, the office wants to promote financial literacy.

The Finance Ministry is collaborating with state agencies on drawing up financial planning for people of all ages and occupations.

The second is the FPO wants to regulate financial institutions so that if consumers take out loans, the funds must be able to generate revenue back for the borrowers,…

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