(June 30): Thailand’s household debt level fell to the lowest since early 2020 after lenders tightened new loan approvals and government unveiled measures to provide relief to millions of borrowers.
The debt level as a ratio of gross domestic product stood at 87.4% in the first quarter, down from 88.4% at the end of last year, according to data published by the Bank of Thailand (BOT) on Monday. An economic expansion of 3.1% in the January-March quarter also helped cut the debt as a percentage of GDP, according to BOT Senior Director Pranee Sutthasri.
The debt in nominal terms fell marginally to 16.35 trillion baht (US$503 billion or RM2.12 trillion) at the end of March from 16.4 trillion baht three months earlier.
Thailand has the…