Household debt this year expected to increase to 91.4% of GDP

[snoop1130]

 

Thailand’s household debt is expected to soar to 16.9 trillion baht, or 91.4% of GDP, by the end of this year, with the value of non-performing loans (NPLs) in the banking system estimated at about 152 billion baht, according to TMB Thanachart Analytics.

 

Household debt, by the end of the third quarter last year, stood at 16.2 trillion baht, up 3.4% on the same period a year before, and the debt accounted for 90.9% of GDP.

 

The 3.4% increase was less than the same period in 2022 because commercial banks had tightened lending practices, which was contradictory to credit card loans, leasing and personal loans, which increased at a higher rate within a decade, said TMB Thanachart Analytics.

 

Full story: Thai PBS 2024-01-25

 

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[Pouatchee]

whatever.... as long as the baht devaluates against foreign currencies....

wonder if the 10 000bht giveaway will change anything

[ikke1959]

It is going to be close to bankruptcy

Edited January 25 by ikke1959

[lordgrinz]

What's the percentage when they add in the out-of-control loan shark debt?

[2baht]

9 hours ago, snoop1130 said:

Thailand’s household debt is expected to soar to 16.9 trillion baht, or 91.4% of GDP

Is that all? Let's borrow some more!!!