Parliament, The House of Representatives discussed the problem of household debt. Pheu Thai MPs stated that it is a big problem that must be urgently solved. They supported digital wallets, believing that they would stimulate the economy in a big way, while Democrat Party MPs pointed out that they are an economic time bomb. Ready to offer 3 solutions
House of Representatives meeting Special meeting today () Mr. Padipat Santipada, First Deputy Speaker of the House of Representatives, acted as chairman of the meeting. Before starting the meeting, members were asked to discuss issues of suffering among the people. Members then discussed the motion to appoint a special committee to study solutions to household debt problems. Proposed by Mr. Anucha Burapachaisri, Ruam Thai Sang Chart Party By Mr. Kittisak Khanasawat, Maha Sarakham MP, Pheu Thai Party, debated in support of the motion. This is a big and important problem for the Thai economic system.
“Currently, household debt has grown 11.5%, equivalent to a debt value per family of 559,000 baht per household, 80% of which is debt in the system and 20% is debt outside the system. Household debt totals 16 trillion baht, accounting for 90% of Thailand's GDP at 17.4 trillion baht, considered the highest amount in the country's history. And it's not just household debt. But it was also found that government debt was as high as ever in Thailand's history. I sympathize with the current government that has just been in charge of the country for 1 month because it has to come in and take on big problems. But I am confident that the government will be able to solve the problem,” Mr. Kittisak said.
Mr. Kittisak said that solving the household debt problem The important thing is to reduce the burden of expenses on the people. Currently, the government reduces energy prices, including electricity and fuel. And there is also a project to suspend farmers' debts. In addition, we must expedite the resolution of financial mechanism problems. which financial institutions Must help people who have debt problems. The government must take care of loan sharks so as not to aggravate the people. and must increase income, such as raising the price of agricultural products This allows merchants in the market to sell goods and create employment. additional production factory As a result, the government has increased tax revenue. This gives the government budget money to do projects that are beneficial to the people. including stimulating the economy Especially the 10,000 baht digital wallet project, which the government wants to stimulate the entire economy in a big way. I would like to encourage the government to systematically solve the debt problem, create jobs, create careers, reduce expenses, increase income and the economy will be good. and hope that Thailand will be freed from low-income countries to middle income Or have a lot of income and allow people to get out of debt and be able to set themselves up.
Mr. Romtham Khamnurak, Phatthalung MP, Democrat Party Discussion that household debt caused by people borrowing money from various financial institutions to spend is now considered a major problem in the country and is a matter of increasing concern. There is a factor from income not being enough to cover expenses. economic downturn economic inequality Product price is expensive Lack of financial knowledge and discipline Including the need for spending, people have to borrow more debt but repay less debt until they are in bad debt. It is debt that cannot generate income. The Bank of Thailand (BoT) states that Thailand has household debt as high as 37%, accounting for 25 million people or 1 in 3 of the Thai population. In 2023, Thailand will have household debt of 16 million. million baht, accounting for 90% of GDP, which is at a dangerous level and ranked at the top of the world, along with a tendency for further expansion.
“When there are debt problems, This causes social problems and also holds back the country's economic recovery. Many people compare it to Household debt is a time bomb for the Thai economy. Therefore, it is very important to urgently protect. Using the council's mechanism for education, I have 3 suggestions: 1. Create financial awareness immunity for the people to prevent the explosion of household debt. By promoting the development of skills in various fields, especially operations that create main income, additional income, and creating stable careers. 2. Find measures to help control debt buildup. Reduce debt and pay off debt. 3. Increasing income distribution. Reduce household income To save and destroy the debt bomb,” Mr. Romtham said
Source: Thai News Agency