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Personal and credit card loans contribute to rise in Thailand’s household debt

13 Sept 11:05 Key points summarised by AI

Thailand's household debt surged to over 14.9 trillion baht in Q3 2022, primarily fueled by a 20% rise in personal loans and a 10% increase in credit card borrowing.
Non-performing loans (NPLs) escalated, reaching 4.7 million accounts with 60% being personal loans, particularly concerning for credit cards among the 30-49 age group.
While household debt grew, its ratio to GDP slightly decreased to 86.6%, and employment improved in Q4 2022 due to economic recovery and tourism.
The NESDC warns of potential economic headwinds, including slowing exports and persistent high living costs, despite recent wage adjustments.
Significant challenges in tax collection persist, with many non-formal workers outside the system and high earners utilizing deductions, impacting national revenue.

Today 14:22 Key points summarised by AI

Thailand's Education Ministry is implementing a four-pronged strategy to address its students' below-average performance in PISA 2025 and tackle significant educational inequality.
The plan prioritizes closing performance gaps by increasing funding for small and low-income schools, overhauling the curriculum to foster critical thinking, and adopting a data-driven management system to reduce teacher workload.
Key initiatives include enhancing school safety, combating cyberbullying, and expanding mental health support through peer-to-peer networks, recognizing the severe impact of distress on academic performance.
An education expert advises verifying if PISA improvements stem from structural changes, advocating for a revived STEM curriculum with practical 'learn by doing' methods, and urging bureaucratic reform to link teacher evaluations to student development.