Q1 household debt at 80% of GDP, highest in 4 years
Thailand's household debt level to gross domestic product (GDP) rose slightly to 80.1% in the first quarter, the highest level in four years, central bank data showed, with the trend set to continue as the coronavirus outbreak squeezes the economy.
The economy could shrink a record 8.1% this year, the central bank predicts.
The debt to GDP ratio may jump to 88-90% at the end of this year, which would be the highest in the 18 years that the central bank has compiled records on household debt, according to Kasikornbank's research centre.