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2 Apr 2024

Thai Economy

Although household debt in 2024 may have slowed down, the household debt-to- GDP ratio is projected to remain high at 90.7% (Current Issue No.3479)

คะแนนเฉลี่ย

         Although household debt in 2024 may have slowed down, the household debt-to- GDP ratio is projected to remain high at 90.7%

         Thailand's household debt in 2023 grew 3.0 percent, causing the household debt-to-GDP ratio to decline to 91.3 percent, after accelerating during the COVID-19 crisis.

         We at KResearch assess that the household debt-to-GDP ratio in 1Q24 may continue to exceed 91.0 percent of GDP due to the debt repayments and the sluggish growth seen in new loans.

         For 2024, it is expected that the outstanding household debt may rise to approximately THB16.8 trillion, amounting to 90.7 percent of GDP. Most of the debt will still be for consumption purposes, suggesting that Thai households are still finding it difficult to make ends meet, and there are structural issues within the overall Thai economy

Thai Economy

Household debt