With a debt mountain of 12.17 trillion THB (372 billion USD), or 77.6 percent of the national GDP at the end of March, Thai households are among the biggest borrowers in Asia, and they find it difficult to keep up with payments.
Bangkok (VNA) – With a debt mountain of 12.17 trillion THB (372billion USD), or 77.6 percent of the national GDP at the end of March, Thaihouseholds are among the biggest borrowers in Asia, and they find it difficultto keep up with payments.
Household debts in the country are said to increase as the Thai central bankhas signalled it is likely to follow other central banks around the world to raiseinterest rates from near-record lows.
Private consumption is a critical element driving the Thai economy, accountingfor half of its 490 billion USD GDP.
Consumers continued to borrow at a robust pace in the second quarter, whenoverall consumer debt rose 8 percent from a year earlier, including a 12.4 jumpin car loans.
The National Economic and Social Development Board said that the economy sloweddown in the second quarter of the year. However, the board still kept its 2018growth forecast unchanged in a range between 4.2 percent and 4.7 percent.-VNA
Thailand’s economy posted the strongest growth in five years in 2017 and is expected to maintain the outlook this year, driven robust exports and tourism.
Slow disbursement of public investment has left Thailand plodding behind faster-growing Southeast Asian economies, according to a study by University of the Thai Chamber of Commerce.
The Trade Policy and Strategy Office (TPSO) of Thailand revealed that Thai exports rose by 12.3 percent in April due to a higher demand for farm produce.
Thailand’s central bank plans to keep its interest rate unchanged again on August 8 to aid economic growth as inflation remains benign and policymakers say capital outflows are not currently a concern, according to Reuters.
The forum, which involves global experts and creative leaders from across 14 cultural sectors, aims to expand Thailand’s presence on the world stage through innovation and cultural exchange.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
Illustrative photo (Photo: moneycontrol.com) 
