Thailand is facing 2.67 million debt related cases totaling 16 trillion baht ($442 Bn)

The National Credit Bureau (NCB) reported that Thailand has 2.67 million debt-related cases totaling 15.99 trillion baht, with 1.05 million cases already ruled in favor of creditors.

• The debt situation of Thai people has worsened with 2.67 million cases, totaling 15.99 trillion baht, currently under legal process, nearing the country’s total household debt and GDP.
• Informal loans account for the highest amount of debt, followed by juristic person loans, with housing loans showing a worrying increase in non-performing loans due to rising interest rates.
• The Bank of Thailand’s decision to maintain the interest rate at a decade high of 2.5% has sparked concerns about the ability of low-income earners to meet increasing mortgage payments, potentially leading to more defaults.

Around 691,000 cases, amounting to 761 billion baht, are currently in the legal execution process. The majority…