Thai household debt-to-GDP at 89.3% in Q3 of 2021, unchanged from Q2

BANGKOK, Jan 1 (Reuters): Thailand’s household debt to gross domestic product ratio stood at 89.3% in the third quarter, unchanged from the previous quarter, the central bank data has showed.

However, the amount of household debt was 14.35 trillion baht (US$430.16 billion) at the end of September, up from 14.28 trillion at the end of June, or equal to 89.3% of GDP, already among Asia’s highest.

The Bank of Thailand started compiling household debt data in 2003. ($1 = 33.3600 baht)

On the same note, however, Thailand’s central bank on Friday (Dec 31) announced that th country’s financial system is stable but debt poses risks.

Thailand’s tourism-reliant economy also has remained under pressure over the last two years due to the Covid-19 virus-induced travel curbs.

Also, most Asian currencies were on…