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Thailand’s household debt increased 3.9% to ฿14.02 trillion in Q4 of 2020 and will grow this year
13 Sept 14:51 Key points summarised by AI
- Thailand's household debt surged to ฿14.02 trillion (89.3% of GDP) in Q4 2020, marking a 3.9% increase.
- While debt servicing improved and non-performing loans (NPLs) decreased due to restructuring, the significant volume of outstanding debt necessitates continuous monitoring.
- Household debt is anticipated to rise further this year, propelled by the ongoing economic slump, increasing unemployment (1.96% in Q1 2021), and reduced public purchasing power.
- Concerns are growing over under-employment, characterized by fewer working hours and declining incomes, alongside potential job scarcity for approximately 4.9 million new college and university graduates.
