View of Sukhumvit, seen towards west - Bangkok. Sukhumvit Road is in the right margin of the image

Thailand’s household debt forecast to jump to 95% of GDP this year

The average household debt in Thailand has increased 5.09% year on year, to 217,952.59 baht, the highest in 14 years, and this year the debt may reach 95% of the gross domestic product (GDP), according to the forecast of the Centre for Economic and Business Forecasting of the University of the Thai Chamber of Commerce (UTCC).

The centre recently conducted a survey of 1,260 union workers, who each earns less than 15,000 baht a month, between April 18th and 24th, and found out that 99% of them are indebted.

Full story: thaipbsworld.com

By Thai PBS World

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