AI In-brief 23 Sept 01:54

Household debt NPLs jump 2.8% in one month and rising

Thailand's household non-performing loans (NPLs) surged 2.8% in July, reaching 1.19 trillion baht, with mortgages, car loans, and credit card debt being the primary drivers.
"SM" debt (repayments 30-90 days overdue) also significantly increased to 670 billion baht, mainly in mortgages, raising concerns as it often precedes NPL classification.
The escalating debt problem is concentrated among "Gen Y" individuals and is now extending to "Gen X", resulting in a high 80% rejection rate for home loan applications.
Experts state there is no short-term solution, highlighting the critical need for the government to enable sustainable income growth for the population.

AI In-brief Yesterday 15:18

Cabinet approves tax hike on imported EVs to 35% from 2027

The Cabinet approved raising excise tax on imported electric vehicles (BEVs and REEVs) to 35%, effective January 1, 2027, from current rates of 10-15%.
This tax hike aims to protect Thailand's local automotive manufacturing, safeguard jobs, and encourage new investments by offering tax incentive packages for companies establishing or expanding production facilities within the country.