Thai Government Approves Measures to Reduce Household Debt

Quick Summary:

The country's household debt-to-GDP ratio is among the highest in Asia, which has acted as brake on its recovery from the COVID-19 pandemic.

While tackling household debt, the Pheu Thai government is also hoping to stimulate domestic consumption via its flagship “digital wallet” stimulus plan.

Thailand’s cabinet has approved a range of debt relief measures aimed at reducing the nation’s alarmingly high levels of household debt, the country’s Prime Minister Paetongtarn Shinawatra announced yesterday.

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Article Details

Author / Journalist: Sebastian Strangio

Category: Economy

Markets: United StatesBangladeshChinaIndiaNorth KoreaSouth KoreaMyanmarPakistanThailandUzbekistan

Topics: Household Debt Million Thailand Banks Asia Baht Government Loans Measures Bank

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-12 @ 13:34:00 (15 hours ago)

News Timezone: GMT +8:00

News Source URL: thediplomat.com

Language: English

Article Length: 1583 words

Reading Time: 9 minutes read

Sentences: 70 lines

Sentence Length: 23 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Diplomat

News ID: 24379019

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