Household debt in Thailand has reached 16 trillion baht in the first quarter of this year, accounting for 90.6% of the country’s GDP.
This increase is due to both higher levels of debt and a redefinition of national household debt, which now includes student loans, agricultural cooperative loans, housing loans, and microfinance.
The rise in household debt is primarily due to real estate purchases and personal loans.
Rising interest rates and debt will put pressure on household consumption, particularly among low-income earners. Vulnerable households may struggle to repay debt with higher interest rates.
Read the rest of Thailand’s household debt surged to 90.6% of GDP on Thailand Business News