Thailand is drowning in household debt. The new prime minister wants to change that
The initiative will also cover the informal sector, and will be implemented through state-owned financial institutions, commercial banks and asset management companies.
The government is concerned about household debt that’s at more than 16 trillion baht (US$475 billion) – equivalent to over 90 per cent of gross domestic product – and rising non-performing loans, Paetongtarn is set to say.
The indebtedness is driving inequality between the rich and poor, with development concentrated mainly in Bangkok and major cities, the prime minister will say.