The Government last week slashed its 2024 growth projections to 2.8% from an earlier forecast of 3.2% on weaker exports and lower foreign tourist numbers. It's a kind of economic recession," Mr. Julapun told reporters. "This is caused by a situation where the household debt burden is high. People's debt burden is high, private sector debt burden is high." He said there would be a sale of government savings bonds worth about 100 billion baht ($2.81 billion) in the 2024 fiscal year, with the first batch in march.

Source: The Hindu January 29, 2024 18:32 UTC