Thailand’s household debt has risen by 3.6% in the second quarter of this year, reaching 16.07 trillion baht, equivalent to 90.7% of the country’s GDP. The increase in debt is mainly due to real estate purchases and personal consumption.
Key Takeaways
- Thailand’s household debt has risen to 90.7% of GDP in the second quarter of this year, posing a significant challenge for the government.
- Real estate purchases and personal consumption have contributed to the increase in household debt.
- Previous debt moratorium programmes have failed, and preventing debtors from resorting to informal borrowing is crucial to effectively addressing the issue.
This poses a significant challenge for the government, as non-performing loans during the COVID-19 pandemic have reached 370 billion baht, requiring debt refinancing. Previous debt moratorium programs have failed, as debtors have…
