- June 26, 2017
- Posted by: admin
- Category: Daily News
- The household debt ratio in Thailand was the third largest in Asia in the 3Q16, according a Bank of Thailand unit.
- The Puey Ungphakorn Institute for Economic Research found Thailand’s household debt was at 71.2% of gross domestic product while the ratio was 123% in Australia and 91.6% in South Korea.
- One-third of all 69 million Thais borrowed from formal lenders. The average per-capita debt was THB150,000.
- The study also found that Thais are becoming indebted at a younger age and half of new workers are indebted. Young workers were the largest non-performing loan group with one out of five on 19.3 million borrowers aged 29 and below defaulting on their loans.
- Young workers becoming indebted and defaulting was worrisome as overall financial stability could be affected, the study pointed out.