By Erich Parpart

Thailand’s household debt reached 14.65 trillion Baht or 89.2% of the gross domestic product (GDP) as of the 1st quarter of 2022, up 3.6% from quarter-to-quarter, the National Economic and Social Development Council (NESDC) said on Friday.

 

Most of the 3.6% increase was seen from higher retail loans as less privileged people continue to struggle to meet their basic needs amid soaring inflation and stagnant wages.

 

Thailand’s household debts is among the highest in the world, the 11th highest globally.

 

Full story: https://www.thaienquirer.com/43422/thailands-household-debt-rises-by-3-6-in-q1-reaches-14-65-trillion-baht-as-npls-rise-says-nesdc/

 

-- © Copyright Thai Enquirer 2022-08-27

 

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Don't worry the Government mabe approve a giant minimum wage raise of 5%... I am always wondering how people can manage with a salary of 350 THB a day.... and no payment when there is a holiday. Shameful that there are so many poor people and a few rich and the superrich are closing their eyes. No they are stimulating buying, go on holiday, buy cars and luxury goods, instead  of give the people a decent wage to live with fewer holidays. Because who has a holiday of the rich will get paid, but daily earners get nothing. With interests rates going up there will be more problems coming. Change things to monthly payments instead day wages and raise to at least 10.000 THB a month

3 hours ago, webfact said:

Most of the 3.6% increase was seen from higher retail loans as less privileged people continue to struggle to meet their basic needs amid soaring inflation and stagnant wages

All as a result of a mad and pathetic government shutting the country down for 2 years and making most unable to work !

Thailand household debt in 11th position amongst countries in the top 20 that have superior economies .

With that in mind Thailand should be number one on the list .

4 minutes ago, RichardColeman said:

All as a result of a mad and pathetic government shutting the country down for 2 years and making most unable to work !

Without covid these crackpot bunch of generals and their puppet master would have ruined the Thai economy anyway. Covid just added to the pain.

Edited August 26, 20223 yr by Excel

4 hours ago, webfact said:

Thailand’s household debt reached 14.65 trillion Baht or 89.2% of the gross domestic product (GDP)

Well let's borrow some more! ????

That will be a rise of 16.6 % over the last 15 Months !

The rise in NPL, Managed Loans , and Loans under Special Mention has only just really started to take off.

NPL must now be at about 7 %, with a whole lot more under the " Managed Loans " and " Special Mention Loans " categories.

The latter two used to mask the real published amount of bad Debt there is in the Country.

And as usual, there is no mention of the amount of Debt estimated to be outstanding on the Grey Market.

Probably about the same amount owed to high interest Loan Sharks and others. 

8 hours ago, webfact said:

Thailand’s household debts is among the highest in the world, the 11th highest globally.

The wealth divide has grown substantially in the last 8 years.

On 8/27/2022 at 6:36 AM, RichardColeman said:

All as a result of a mad and pathetic government shutting the country down for 2 years and making most unable to work !

You do understand it wasn't just Thailand that shut their country down??