Thai households are saddled with the highest level of debt in 14 years and prospects remain worrisome as the Thai economy has not yet recovered while the prices of goods keep rising, weakening consumer purchasing power.
The latest survey by the University of the Thai Chamber of Commerce (UTCC) interviewed 1,260 respondents whose income is below 15,000 baht per month, finding that 99% of them were in debt.
Debt was mainly incurred from daily expenses, credit cards and residential and vehicle purchases.
