The ratio of Thailand's household debt to gross domestic product is currently at a "worrying" 90.6%, the central bank said on Monday, adding that it posed no real problem at present.
Bank of Thailand assistant governor Suwannee Jatsadasak said at a media briefing the rate had started to fall and there was no sign of a surge in non-performing loans.
Thai banks' non-performing loans dropped to 2.68% of lending at the end of March from 2.73% at the end of 2022, helped by debt restructuring, the central bank said earlier. The banking system remains resilient with high levels of capital, loan-loss provisions and liquidity, the central bank has said.
The debt ratio of 90.6% at the end of March was down from 91.4% in the previous quarter, central bank data showed, as the economy continues to recover. The debt amount, however, rose to 15.96 trillion baht (US$452.51 billion) at the end of March, up from 15.87 trillion baht at the end of 2022.
The debt ratio is under a new series, which includes more debt categories, a central bank official has said.
