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Thai household debt soars to record high

Monday, December 22, 2014 - 05:50

Bank of Thailand governor Prasarn Trairatvorakul said "we want the economy to grow and people to spend money, but we also want those who have lots of debt to be careful. When we have lots of debt, it may be a constraint to growth".


DIN Ruenmeesang spends about half his monthly income making minimum payments on his seven credit cards and multiple bank loans. That isn't stopping the 33-year-old from borrowing again to buy a new car next year.

Spenders like Mr Din are making it hard for Thailand's

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