BANGKOK, Nov. 26 (Xinhua) -- Thailand's household debt rose 1.3 percent in the second quarter of 2024 to 16.32 trillion baht (about 471.78 billion U.S. dollars), easing from the previous quarter's rate of 2.3 percent, official data showed on Monday.
This led to a decline in the Southeast Asian country's debt-to-gross domestic product (GDP) ratio from 90.7 percent to 89.6 percent in the April-June period, according to the National Economic and Social Development Council (NESDC).
Most categories of household debt experienced a slowdown or contraction, except for personal loans. This trend was due to a combination of high debt burdens, declining credit quality and stricter lending standards by financial institutions, the NESDC said in a statement.
Non-performing personal loans rose to 1.16 trillion baht (about 33.63 billion dollars), representing 8.48 percent of total loans, up from 8.01 percent in the previous quarter, with increases observed across all loan types, the state economic planning agency said. ■
