The Prime Minister of Thailand, Srettha Thavisin, stated that the government is working to resolve crucial economic issues, but it will take time..He also claimed immediate solutions are not feasible and said that the government is focusing on short term solutions to ease economic strain on the population, such as household debt..Figures from a May 2024 survey show household debt at $375 million (13.5 trillion Baht), SME business debt at $41 million (1.5 trillion Baht), and government debt sitting at around 63% of the country's GDP, expected to go down around 2026..Key points discussed were adjusting residential debt structures through extended loan terms, repossessions of pickup trucks, and tackling credit card debt issues..Other actions include solutions for credit card debts with cooperation from banks, student loans, reviewing challenges faced by farmers, increasing controls on imports, and improving the speed of BOI investment projects.
The Prime Minister of Thailand, Srettha Thavisin, stated that the government is working to resolve crucial economic issues, but it will take time..He also claimed immediate solutions are not feasible and said that the government is focusing on short term solutions to ease economic strain on the population, such as household debt..Figures from a May 2024 survey show household debt at $375 million (13.5 trillion Baht), SME business debt at $41 million (1.5 trillion Baht), and government debt sitting at around 63% of the country's GDP, expected to go down around 2026..Key points discussed were adjusting residential debt structures through extended loan terms, repossessions of pickup trucks, and tackling credit card debt issues..Other actions include solutions for credit card debts with cooperation from banks, student loans, reviewing challenges faced by farmers, increasing controls on imports, and improving the speed of BOI investment projects.
