Thai Household Debt Drops to Five-Year Low as New Loans Shrink
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 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.
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