Thailand’s household debt has reached 90.7% of the country’s GDP in the second quarter of this year, posing a significant challenge for the government. The increase in debt is mainly due to real estate purchases and personal consumption.
Previous debt moratorium programs have failed, and preventing debtors from resorting to informal borrowing is crucial. Non-performing loans during the COVID-19 pandemic have reached 370 billion baht, requiring debt refinancing. The government must focus on preventing informal borrowing to effectively address the issue.
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