{"id":2806,"date":"2024-03-14T11:45:56","date_gmt":"2024-03-14T04:45:56","guid":{"rendered":"https:\/\/plizz.co\/?p=2806"},"modified":"2024-03-14T11:45:57","modified_gmt":"2024-03-14T04:45:57","slug":"thailands-soaring-personal-loans-trigger-concerns-about-peoples-liquidity","status":"publish","type":"post","link":"https:\/\/plizz.co\/th\/blog\/thailands-soaring-personal-loans-trigger-concerns-about-peoples-liquidity\/","title":{"rendered":"Thailand\u2019s soaring personal loans trigger concerns about people\u2019s liquidity"},"content":{"rendered":"
\"RB0PcIdyOaMtBsHNykUg\"<\/figure>\n\n\n\n

March 04, 2024<\/p>\n\n\n\n

A recent surge in personal loans is a clear reflection of households\u2019 lack of financial liquidity, the National Economic and Social Development Council (NESDC) warned on Monday.<\/strong><\/p>\n\n\n\n

Thailand’s household debt in the third quarter of 2023 came in at 16.2 trillion baht, marking a 3.3% year-on-year increase and accounting for 90.9% of the country\u2019s gross domestic product (GDP).<\/p>\n\n\n\n

Non-performing loans (NPLs), meanwhile, came in at 152 billion baht, accounting for 2.79% of total loans.<\/p>\n\n\n\n

The surge in household debts in Thailand has been attributed to the 15.6% expansion in personal loans, especially car loans, which rose by 40.2% year on year.<\/p>\n\n\n\n

\u201cThis reflects people\u2019s lack of liquidity, as car loans are usually approved quickly and easily,\u201d NESDC secretary-general Danucha Pichayanan said on Monday.<\/p>\n\n\n\n

However, he said, auto loans are given at a far higher rate of interest and are usually the last option when it comes to boosting liquidity.<\/p>\n\n\n\n

Danucha said NESDC will follow up on household debt-related issues with the following measures:<\/p>\n\n\n\n

\u2022 Providing guidelines for responsible lending practices to tackle household debt, especially for people with persistent debt<\/p>\n\n\n\n

\u2022 Tackling the rise in personal loans<\/p>\n\n\n\n

\u2022 Dealing with informal debt, which includes following up on debt mediation, easing loan granting regulations among state financial institutions and monitoring debtors\u2019 repayment potential<\/p>\n\n\n\n

\u201cPeople should be granted easier access to loans, especially the self-employed sector, who have unstable income and may contribute to more NPLs in the future,\u201d he added.<\/p>\n\n\n\n

Source: The Nation<\/a><\/p>","protected":false},"excerpt":{"rendered":"

March 04, 2024 A recent surge in personal loans is a clear reflection of households\u2019 lack of financial liquidity, the National Economic and Social Development Council (NESDC) warned on Monday. Thailand’s household debt in the third quarter of 2023 came in at 16.2 trillion baht, marking a 3.3% year-on-year increase and accounting for 90.9% of […]<\/p>\n","protected":false},"author":26,"featured_media":2807,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2806","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"\nThailand\u2019s soaring personal loans trigger concerns about people\u2019s liquidity<\/title>\n<meta name=\"description\" content=\"Read our article " Thailand\u2019s soaring personal loans trigger concerns about people\u2019s liquidity ". 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