Thailand’s Economy in Crisis: Learn How to Stay Afloat

Deputy Finance Minister Julapun Amornvivat underlined the government’s prerogative to deem the current economy as crisis-ridden, a pivotal aspect for sanctioning the 500-billion-baht loan bill to propel its digital wallet disbursement scheme. According to him, the definition of an economic crisis is subjective, hinging on individual perception.

Nonetheless, the government’s assessment paints the picture of an economy in dire need of swift stimulus measures to avert further decline.

Julapun emphasised that the state of the economy, whether in crisis or not, would unlikely impact the affluent. However, the less fortunate demographic perceives the economy to be underperforming and in a state of crisis. He attributed Thailand’s economic slump to the skyrocketing household debt, which currently stands at 90% of GDP. This has ramifications on domestic…