Financial system increasingly vulnerable
The Thai financial system has become more vulnerable due to negative shocks from the recent Covid-19 outbreak, says the Bank of Thailand (BoT).
The financial situation of Thai households has become more fragile as reflected in the elevated debt-to-income ratio which is higher compared to other countries.
The majority of household debt comprises of personal consumption loans with high-interest rates, resulting in a high monthly debt service burden, according to edited minutes of the central bank’s Monetary Policy Committee (MPC) released on Wednesday.
Somruedi Banchongduang
