Finance Ministry reveals approach to tackling formal indebtedness

13 Sept 09:16 Key points summarised by AI

The Ministry of Finance unveiled a comprehensive plan to address formal debts by categorizing debtors and offering tailored solutions.
Specific relief measures include refinancing options, debt restructuring, and significant interest rate cuts for individuals and SMEs affected by COVID-19, as well as credit card holders.
State officials with cooperative debts will receive assistance, with a guarantee that 30% of their monthly pay will remain after debt deductions.
For debtors with uncertain incomes, such as those with car or motorcycle leasing debts, the Consumer Protection Committee will establish interest rate ceilings and default repayment rates, while chronic NPLs will undergo restructuring and interest rate reductions via asset management companies.

New home loan scheme aims to boost property sector with Bt125 billion

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.