BANGKOK- Thailand’s household debt and non-performing loans have stabilized after economic growth gained pace towards the end of last year, its finance minister said on Friday, pledging more measures to help boost credit access.
Thailand’s had a household debt-to-GDP ratio of 89.6 percent at the end of June last year, amounting to 16.3 trillion baht ($482 billion), among the highest levels in Asia. The government sees household debt as significant constraint on consumption and growth.
“Even though household debt has not decreased immediately, it has begun to stabilize,” Finance Minister Pichai Chunhavajira told reporters, adding the ministry will on Tuesday discuss with banks ways to ease credit for borrowers.
He said non-performing loans on a quarterly basis were not increasing, citing third and fourth quarter economic growth last year that exceeded 3 percent.
