Thai household debt expected to soar beyond 80% of GDP due to Covid-19

The pandemic resulted in businesses shutting down in addition to the drought already having hit households hard, leading to increased borrowing of money as incomes declined. - Bloomberg

BANGKOK (The Nation/ANN): The Covid-19 crisis has had a massive impact on household debt and it is expected to rise to more than 80 per cent of GDP, the National Economic and Social Development Council (NESDC), a state think-tank, has warned.

Thai household debt stood at 79.8 per cent of gross domestic product (GDP) in the first quarter of this year.