PM: Govt continues to help people in debt

[rooster59]

PM: Govt continues to help people in debt

BANGKOK, 31 October 2015 (NNT) - Prime Minister Prayut Chan-O-Cha said the government continues to help people who currently remain in debt.

However, the premier said, debtors come from all walks of life besides farmers, teachers and government officials. The government has taken steps to solve debt problems by way of state-owned and commercial banks.

The premier said he had discussed with the Ministry of Finance ways and means to help the people in debt, such as those who may have borrowed loan money to buy houses.

The government already has taken measures to prevent bad debts from arising and to implement taxation measures for which cooperation with public and private financial institutions will be needed.

-- NNT 2015-11-01

[cloudhopper]

Ways, means, steps and measures. No specifics whatever in this propaganda piece.

[worgeordie]

Educate them how to manage a budget (oh that might be a bit too much,as Governments

don't stick to theirs either).

regards worgeordie

[Jeremy50]

If you ain't got the money, don't buy it. What's so hard about that to understand?

[Searat7]

The government keeps arranging for banks to make loans to people who will never be able to re-pay. The government and banks here are largely responsible for the high household debt in Thailand; in other countries many of the borrowers would never qualify for loans. The other day a Thai friend really surprised me when he admitted to having 300,000b in credit card debt on 4 cards.

[selftaopath]

Is being responsible, accountable virtues of said society? Is logic easily accessible to the masses?

I personally feel Thailand has an overwhelming number of Co-Dependent individuals and may even be part or Thai governments way of "being."

They certainly have not learned about negative/positive reinforcement.

[Vandadavid]

Nice little dialogue media magic

[ignis]

Thought the other day he was saying low paid people on 10,000 baht month could have a house loan of 1 million baht ??

[Srikcir]

For the record household has increased dramatically under the Prayut regime:

“Household debts have increased to an average of 219,000 baht per household this year which are the highest level in nine years with 49 percent of the debts being unorganized debts” 2014-07-24

“The Office of the National Economic and Social Development Board (NESDB) reported the Thai people were increasingly in debt and default in the second quarter of this year as well as lower employment and higher unemployment in the period.” 2014-08-25

“Outstanding public debts for the month of July increased 7,153 million baht from the June’s figures largely due to the reimbursements of 15 billion baht loan by the Sugarcane and Sugar Fund. “ 2014-09-09

“According to the [The University of the Thai Chamber of Commerce] survey, household debts in October increased 29.6%, from 22.8% in July.” 2014-10-17

“household debt reached 85 percent of the gross domestic product (GDP) in the fourth quarter of 2014, up from 84 percent the quarter before. …The number of people who failed to repay debt for more than three months in the last quarter of 2014 rose to 30.4 percent” 2015-02-24

“The Bank of Thailand (BOT) is expecting national household debt to rise further” 05-07-2015

“The National Economic and Social Development Board (NESDB) says household debt has risen 6.4% to 10.57 trillion baht in the first quarter of this year” 2015-08-25

“Thai households have an average debt of 248,004 baht each this year which represents an increase of 13.16 percent of last year’s average of a 219,158 baht which is the highest in ten years” 2015-09-04

Increased debt has been driven by a weakened economy and by the current government’s frequent use of cash subsidies, soft loans, and debt forgiveness to bring happiness to the agricultural industry that makes up 40% of the nation’s GDP.

Former Finance Minister Sommai (replaced by Somkid 08-18-2015) recognized the drawback of these government economic policies (04-01-2015):

“The soaring debt is one of the major economic woes and the government has to rule out consumption-led stimulus measures”

Prayut’s answer to the problem: "Please refrain from racking up debts," 2015-02-11

[ginjag]

For the record household has increased dramatically under the Prayut regime:

“Household debts have increased to an average of 219,000 baht per household this year which are the highest level in nine years with 49 percent of the debts being unorganized debts” 2014-07-24

“The Office of the National Economic and Social Development Board (NESDB) reported the Thai people were increasingly in debt and default in the second quarter of this year as well as lower employment and higher unemployment in the period.” 2014-08-25

“Outstanding public debts for the month of July increased 7,153 million baht from the June’s figures largely due to the reimbursements of 15 billion baht loan by the Sugarcane and Sugar Fund. “ 2014-09-09

“According to the [The University of the Thai Chamber of Commerce] survey, household debts in October increased 29.6%, from 22.8% in July.” 2014-10-17

“household debt reached 85 percent of the gross domestic product (GDP) in the fourth quarter of 2014, up from 84 percent the quarter before. …The number of people who failed to repay debt for more than three months in the last quarter of 2014 rose to 30.4 percent” 2015-02-24

“The Bank of Thailand (BOT) is expecting national household debt to rise further” 05-07-2015

“The National Economic and Social Development Board (NESDB) says household debt has risen 6.4% to 10.57 trillion baht in the first quarter of this year” 2015-08-25

“Thai households have an average debt of 248,004 baht each this year which represents an increase of 13.16 percent of last year’s average of a 219,158 baht which is the highest in ten years” 2015-09-04

Increased debt has been driven by a weakened economy and by the current government’s frequent use of cash subsidies, soft loans, and debt forgiveness to bring happiness to the agricultural industry that makes up 40% of the nation’s GDP.

Former Finance Minister Sommai (replaced by Somkid 08-18-2015) recognized the drawback of these government economic policies (04-01-2015):

“The soaring debt is one of the major economic woes and the government has to rule out consumption-led stimulus measures”

Prayut’s answer to the problem: "Please refrain from racking up debts," 2015-02-11

Biased one sided answer to discredit the Thai admin.

World mega problem is what you should have said.

ALSO the 700Billion in government hands but lost by the PTP would have come in handy to give stimulus ---

All the other billions lost throughout every county through the last regime--with mega corrupt officials.

Did you forget these and a host more mega blunders over the last 3 years of Shin rule----flood---tablets--rice--trips overseas--endless------your memory gone.

[ozyjon]

They could set up an office outside any

casino.

[sirineou]

exactly how is the government helping people in debt?

[duckmandon]

Any fool can borrow to much money, as the banks let them fully knowing that they can then repossess the items bought & make a good profit. Education is needed to stop this from happening in any country. Thais do not no when to stop that is the problem. Champagne taste on a beer budget!!!!