BRITISH INTERNATIONAL SCHOOL, PHUKET
The Phuket News Novosti Phuket Khao Phuket

Login | Create Account | Search


Tackling household debt high on government’s 2022 agenda

Tackling household debt high on government’s 2022 agenda

BANGKOK: The government has set its sights on hastening the economic recovery and marking 2022 as the year of tackling household debt, said Prime Minister Prayut Chan-o-cha in his New Year message.

CoronavirusCOVID-19agricultureeconomicsnatural-resourcesVaccinepolitics
By Bangkok Post

Monday 3 January 2022, 10:14AM


Tackling household debt is one of the main missions for Prime Minister Prayut Chan-o-cha this year. Photo: Government House

Tackling household debt is one of the main missions for Prime Minister Prayut Chan-o-cha this year. Photo: Government House

In a Facebook post, Gen Prayut said the country has been beset by problems stemming from COVID-19 and the economic malaise that resulted from pandemic lockdowns and restrictions, reports the Bangkok Post.

He said he has ordered measures to be taken to deal with the crisis, which have aided people facing dire straits. “I’m pleased that the measures have shown signs of easing people’s plight,” he said.

Vaccine procurement and inoculation targets have been met with more than 100 million doses of vaccines administered so far, he said.

The reopening of the country has kickstarted the economy, setting in motion a much-needed recovery, he said. Confidence indices have surged across the farming, industrial and service sectors, while investments are also looking up. Relief packages have helped preserve the public’s purchasing power and stimulated the economy, he added.

The Khon La Krueng (“Half and Half”) co-payment subsidy programme in particular has been a resounding success and Phase 4 of the scheme will be introduced in March, he said. Public spending spurred by Phase 3, which ended on Friday, amounted to over B200 million, he added.

He said the government has enabled SMEs to access loans worth B240 billion, which is credited for the creation of 2.6 million jobs.

The rice guarantee scheme, worth B80bn, has given a financial breather to 4.7mn farmers nationwide, he said.

The government is prioritising the kingdom’s household debt problem, which has reached a crisis point, Prayut said, adding the government hoped to resolve household debts through a variety of channels and mechanisms, including debt negotiations and restructurings.

According to a Reuters report, Thailand’s household debt to GDP ratio stood at 89.3% in the third quarter.

The amount was B14.35 trillion at the end of September, up from 14.28trn at the end of June, or equal to 89.3% of GDP, already among Asia’s highest, it said.

Comment on this story

* Please login to comment. If you do not have an account please register below by simply entering a username, password and email address. You can still leave your comment below at the same time.

CAPTCHA

christysweet | 03 January 2022 - 18:17:21

They just gotta have that brand new gigantic truck that sucks  gas. Planet will be unlivable in a few decades, glad  to be my age. 

Kurt | 03 January 2022 - 11:34:18

Tackling household debts can start with announcing lesser holidays. That creates less spending, more working days make earning more money to decrease the enormous debts among Thai people. Spending money you not have ( credit cards) is wrong. At the end you have to fork it up some day or stay in a miserable financial sink hole.

 

Have a news tip-off? Click here

 

Phuket community
Phuket Town pedestrian crossings get safety makeover

@christysweet What are 'presto people?'...(Read More)


Scathing Phuket hospitel report spurs action

...white light restaurants, and must renew permits for the silly reason the alcohol time window goes...(Read More)


Phuket Town pedestrian crossings get safety makeover

Without traffic lights pedestrian crossings in any country are a hazard for everyone involved Stop...(Read More)


Scathing Phuket hospitel report spurs action

Very good famous journalist Jonathan Miller shines his view about the sloppy nonsense Phuket hospit...(Read More)


Phuket vows tough action on unmasked tourists

You would think in all fairness that all people not wearing masks would be prosecuted, not only tour...(Read More)


Scathing Phuket hospitel report spurs action

Cue inbound 'defamation' charges for the Sunday Times exposing the truth. The whole thing is...(Read More)


Foreigner shot at Patong resort

@JohnC- nice bit of casual racism going on there. Any proof to back up your comment? One wonders why...(Read More)


Scathing Phuket hospitel report spurs action

most of those hospitel do not even have proper hotel licence.... that a fact......(Read More)


Scathing Phuket hospitel report spurs action

thos hospitel are all local run businesses, therefore they all are holes and crappy places....there ...(Read More)


Phuket Town pedestrian crossings get safety makeover

Things can change - and quickly. Look at Times Square in NY City. The Mayor started enforcing the s...(Read More)