Thai households are among the biggest borrowers in Asia, racking up a debt mountain of 14 trillion baht, or 89.3% of gross domestic product (GDP) by the end of December, a sharp rise from 78.1% in 2017. And, they are finding it increasingly difficult to keep up with payments.The level of household debt is the highest since Bank of Thailand, the central bank. began keeping records in 2003.
BANGKOK: Thai farmer Jamras Kongchai is struggling to pay off 500,000 baht ($16,082) in debt as money from the sale of her crops is not enough to make payments.
Adding to the strain, the coronavirus outbreak has shut a small construction firm where she worked for $10 a day for much needed extra income.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
