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Bangkok Post
Bangkok Post
Business

BIZARRE: Warning over household debt surge - You Need To See This

Danucha Pichayanan NESDC The National Economic and Social Development Council Thailand Economy
Members of the public attend a debt mediation fair held at Impact Muang Thong Thani. Mr Danucha says personal loans have continued to grow at an increasing rate — 20.8% over the last two quarters.  Pornprom Satrabhaya

The National Economic and Social Development Council (NESDC) warns that Thailand's ballooning household debt will become a serious problem if employment and the economy decelerate, says secretary-general Danucha Pichayanan.

During a press conference on the economic outlook for the first quarter of 2023, Mr Danucha said that as household debt would hinder the expansion of domestic consumption, debt restructuring needed to continue alongside financial and fiscal discipline at both the individual and corporate level.

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