Tackling household debt high on govt's 2022 agendaTackling household debt is one of the main missions for Prime Minister Prayut Chan-o-cha this year. (Government House photo)The government has set its sights on hastening the economic recovery and marking 2022 as the year of tackling household debt, said Prime Minister Prayut Chan-o-cha in his New Year message. Public spending spurred by Phase 3, which ended on Friday, amounted to over 200 million baht, he added. The government is prioritising the kingdom's household debt problem, which has reached a crisis point, Gen Prayut said, adding the government hoped to resolve household debts through a variety of channels and mechanisms, including debt negotiations and restructurings. According to a Reuters, Thailand's household debt to GDP ratio stood at 89.3% in the third quarter.

Source: Bangkok Post January 03, 2022 12:11 UTC