Thailand's household debt has seen a minor reduction in the second quarter as banks implemented stricter lending practices to manage bad loans and borrowers stepped up debt repayments amidst the highest interest rates in a decade.
As of June, household debt, as a percentage of the country's Gross Domestic Product (GDP), stood at 89.6%, down from 90.7% in the previous quarter. This equates to a total liability of 16.32 trillion baht ($507 billion), slightly decreased from 16.36 trillion baht in the first quarter, according to data released by the Bank of Thailand.
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