debt
- Thailand News
Thailand’s public debt remains sustainable at 64% of GDP
The recent Cabinet meeting focused on the nation’s public debt status, revealing it remains well within sustainable limits. Public debt as of August reached 11.7 trillion baht, accounting for 64% of the country’s GDP, comfortably below the 70% benchmark for fiscal sustainability. Government spokesperson Jirayu Houngsub detailed during the meeting that the Finance Ministry adhered strictly to the public debt…
- Economy News
Thai public debt remains under 70% of GDP despite borrowing
Thailand’s public debt remains within manageable levels, according to the Public Debt Management Office (PDMO), despite recent borrowing for fiscal 2024. Jindarat Viriyataveekul, a public debt advisor for the PDMO, confirmed that the debt level has not surpassed the critical threshold of 70% of GDP. “The level is still within this limit, even though the government borrowed an additional 145…
- Thailand News
Thai man denies rape attempt in Chon Buri, claims erectile dysfunction
A Thai man in Chon Buri admitted to physically assaulting a victim over a 100,000 baht debt but denied attempting to rape the victim’s wife, who is eight months pregnant, claiming he suffers from erectile dysfunction. The Thai victims sought help from news agencies following the brutal attack and alleged attempted rape by a 46 year old vintage shirt vendor…
- Thailand News
Rural Roads demands BMA pave the way with late 197.9m baht fee
The Rural Roads Department urged the Bangkok Metropolitan Administration (BMA) to settle an outstanding payment of 197.9 million baht in land lease fees. These fees cover the use of three specific areas, including a portion of Ratchaphruek Road, and for the construction of two electric railway lines. Pichit Hoonsiri, the department’s deputy director-general, mentioned that the department sent a formal…
- Crime News
Woman attacks debtor at funeral in Songkhla, victim critical
A woman attacked a debtor at a funeral with a knife, seriously injuring her, then fled the scene. The incident occurred yesterday at Wat Ja Ting Phra, Sathing Phra district, Songkhla province. The victim, 36 year old Wilaiwan, remains in critical condition at Songkhla Hospital. The assailant, 58 year old Sawai, later surrendered to the local police. Witnesses reported that…
- Thailand News
Nok Air takes off again: Ready to ‘baht’ back in business
Nok Air is plotting a major comeback, with a 5 billion baht cash injection on the cards for 2025. The Thai low-cost airline, which entered business rehabilitation in 2021, is now eyeing an exit in 2026, as CEO Wutthiphum Jurangkool outlines a path to financial recovery. In an interview with Bangkok Business, Wutthiphum revealed the funds will be used to…
- Thailand News
Agriculture minister vows to expedite debt relief for farmers
Ekaphap Phonsue, spokesperson for the Ministry of Agriculture and Cooperatives, revealed that Saikrai Pimbueng, a committee member and secretary of the Farmers’ Rehabilitation and Development Fund (FRDF), recently met with Narumon Pinyosinwat, the Minister of Agriculture. The meeting aimed to discuss policies and actions concerning Thai farmers’ issues. Saikrai detailed that since 2019, the previous government had considered restructuring farmers’…
- Thailand News
Recipients can use 10,000-baht handout to clear debts: Deputy PM
Recipients of the 10,000-baht handout are free to use the money as they see fit, including paying off debts, according to Deputy Prime Minister Phumtham Wechayachai. Phumtham addressed reports that many eligible individuals in the first phase of the scheme, which began yesterday, September 26, plan to use the funds to clear their debts. “They can use the money [to…
- Crime News
Woman tricked into 10 million baht debt after friend’s betrayal
A 41 year old woman devastated by the betrayal of a close acquaintance has found herself burdened with over 10 million baht in debt after her personal information was used to secure loans. She appeals to the police for justice and help. Krisyaniporn, from Sankhaburi in Chai Nat province, tearfully recounted her ordeal. She explained that a woman named Mat,…
- Thailand News
Thai YouTuber harassed by fan seeking 150,000 baht
A famous Thai social media influencer and YouTuber exposed the harassing behaviour of a female fan who demanded 150,000 baht from her to pay off a debt. After the revelation, the fan threatened to sue the influencer for violating personal information laws. The influencer, 30 year old Varaporn “Bew” Piyanantasomdee, took to her social media accounts to reveal that the…
- Thailand News
Pathum Thani abbot agrees to repay 10 million baht debt
A resolution has been reached after a late-night investigation led by the local ecclesiastical head. The abbot of Wat Phuet Udom, who borrowed nearly 10 million baht, has agreed to settle the debt. A 57 year old woman claimed that the abbot of Wat Phuet Udom in the Klong 13, Phuet Udom subdistrict, Lam Luk Ka district, Pathum Thani province,…
- Thailand News
Woman’s temple ‘donation’ sparks 9.2 million baht-tling dispute
A Thai woman demanded the repayment of 9.2 million baht from the abbot of Phuet Udon Temple in Pathum Thani Province. However, the monk has maintained that the woman had donated the money to the temple voluntarily. The 57 year old woman, Kritsana, sought the assistance of non-profit organisation Saimai Survive to explore her legal options regarding the possibility of…
- Thailand News
Foundation urges more funds to aid Thai debtors’ repayments
The Supha Wongsena Foundation For Debtors’ Rights Reform has called on the government to allocate more funds to the Land Bank Administration Institute to assist individuals in repaying their debts. This appeal was made during a seminar aimed at finding solutions to household debt, organised by the Department of Special Investigation (DSI) at the DSI Academy in Nong Chok district…
- Thailand News
Khon Kaen kidnap caper: Daughter’s scam to call home for cash
A Thai couple in the Isaan province of Khon Kaen sought police help, believing their daughter had been kidnapped by a call centre scam gang for ransom. However, the woman later confessed to staging the kidnapping to extort money from her parents to pay off her debt. The couple, 51 year old Kittima and his wife, filed a complaint with…
- Bangkok News
Bangkok requests extension to settle BTS Skytrain debt
Bangkok Governor Chadchart Sittipunt announced yesterday that the city will require additional time to address its substantial debt owed to Bangkok Mass Transit System Plc (BTSC), the operator of the BTS Skytrain. The debt, amounting to billions of baht, was accumulated through hiring BTSC to manage the electric train service on two extended sections of the BTS, known as the…
- Crime News
Man shot over 10,000 baht debt near Chon Buri petrol station
A gang of brutal money lenders shot a 34 year old man after he failed to repay a debt of 10,000 baht. The incident occurred last night at 8.30pm near a PTT petrol station on the Chon Buri-Pattaya bypass road in Ban Suan, Mueang district, Chon Buri. Responding to the scene, police and rescue workers found shell casings and a…
- Thailand News
Bangkok ordered to pay over 12 billion baht to BTS within 180 days
The Supreme Administrative Court upheld a ruling requiring Bangkok Metropolitan Administration (BMA) and Krungthep Thanakom Company to pay BTS Group Holdings over 12 billion baht in outstanding debts related to the Green Line extension project within 180 days. The Supreme Administrative Court delivered its final verdict at 9am today, July 26, affirming the Central Administrative Court’s decision. The BMA and…
- Business News
Thai woman’s 307,000 baht debt sparks social media advice
A woman’s struggle with debt totalling 307,000 baht recently gained significant attention on social media. Earning 22,000 baht per month, she allocates 6,000 baht for rent and 3,000 baht for motorcycle loan payments. The debt, arising from six unsecured loans including credit cards and personal loans, spans multiple financial institutions. Details on monthly instalments, interest rates, or the status of…
- Thailand News
Vietnamese men engage in brawl in Pattaya over debt
A brawl between foreign tourists erupted in Pattaya yesterday afternoon shocking bystanders in the vicinity. The confrontation, which left one man injured, unfolded in front of stunned locals and visitors near a popular restaurant on South Pattaya Road. The chaos erupted outside a food-to-order restaurant when a group of men began attacking 38 year old Vietnamese national Xuan Hai Ngo…
- Thailand News
Buriram woman faces home seizure after co-signing a car loan
A woman in Buriram has pleaded for help after receiving a home seizure court order due to unpaid car loan instalments by a close friend she’d been a guarantor for. A general labourer, 32 year old Pacharinporn co-signed for her friend Pu (a pseudonym) to buy a new pickup truck in 2019. Pu’s now-deceased ex-husband was the primary guarantor, with…
- Thailand News
Thai couple tricked into affair and left in 500,000 baht debt
A Thai couple in the Isaan province of Nong Khai is seeking justice, accusing a former school director of tricking them into a seedy polygamous relationship which left them with a 500,000 baht debt. The 58 year old woman, Sarinya Worrarat, turned to the Ban Dung Update, Facebook page for assistance after losing both her home and savings due to…
- Thailand News
Decline in family income threatens Thai children’s education
The average monthly income of Thailand’s very poor families has plummeted, placing children’s education in jeopardy. According to the Equitable Education Fund (EEF), these families’ earnings dropped to a mere 1,039 baht per month in 2023, down from 1,077 baht in 2020. This translates to a daily income of just 34 baht—far below the World Bank’s poverty line of 80…
- Thailand News
Elderly man 20 million baht in debt after employer’s deception
An elderly man faces destitution after being deceived by his employer, leading to a debt of 20 million baht and the seizure of his elderly pension, leaving him with no money for food. A member of the local administrative organisation, 46 year old Phongchai reported that a local had been entangled in a bankruptcy case, resulting in a debt of…
- Business News
Minister proposes shorter blacklist period for bad debtors
Finance Minister Pichai Chunhavajira proposed reducing the time period for which bad debtors remain on the National Credit Bureau’s blacklist, aiming to facilitate quicker access to new borrowing opportunities. While speaking at a signing ceremony for the establishment of ARI-AMC, a joint venture between the Government Savings Bank (GSB) and Bangkok Commercial Asset Management Plc (BAM), Pichai noted that the…
- Thailand News
Rent rage: Thai woman fries trio with hot oil over 8,000 baht
A Thai woman attacked two women and a two year old girl with scalding hot cooking oil over an unpaid rent bill of 8,000 baht. The victims sought help from the Paveena Foundation for Women and Children with their medical treatment and to ensure the attacker faced justice. The victims revealed that the attacker tried to convince them to drop…
- Thailand News
Thai government cracks down on illegal loans
Illegal lenders have been given a final ultimatum: Register with the Thai government’s debt settlement programme by May 31 or face severe consequences. Deputy Interior Minister Chada Thaised announced this stern warning yesterday, emphasising that this crackdown on illicit lending is a top priority for Prime Minister Srettha Thavisin’s administration. Despite the Interior Ministry’s success in bringing over 100,000 illegal…
- Guides
Navigate debt guide: Laws and strategies for financial recovery
Navigating through debt in Thailand presents a considerable challenge, particularly when confronted with language barriers, cultural nuances, and the complexities of its legal framework. For individuals seeking to address financial difficulties, acquiring a comprehensive understanding of the effective strategies for debt recovery within this Southeast Asian country is imperative. With proper guidance, not only is surmounting debt achievable, but it…
- Business News
Thai banks reduce loan rates to alleviate customer debt
The four biggest banks in the country have all declared a drop in their loan interest rates. This decision by Bangkok Bank (BBL), Krungthai Bank (KTB), Kasikornbank (KBank), and Siam Commercial Bank (SCB) is a response to the prime minister’s call to lessen loan rates to help ease the debt pressure on susceptible customers. An anonymous banking sector analyst opines…
- Thailand News
Government’s debt hike prompts caution from agencies
Ratings agencies issued cautionary statements following the surprise decision this week by the government to increase its debt in a bid to stimulate the economy. The move, which may compromise the government’s fiscal consolidation efforts, is likely to stimulate short-term growth. The medium-term budget plan was revised by the Cabinet on Tuesday, causing a rise in the deficit next fiscal…
- Thailand News
Thai comedian’s monkhood plans pickled in debt controversy
Controversy has erupted around a Thai comedian as he prepares to enter monkhood amid a storm of online criticism and debt claims from a pickled crab seller. The comedian’s decision to ordain follows a public dispute over unpaid debts, which has led to widespread condemnation from netizens and creditors alike. The drama unfolded on the popular talk show Hone Krasae,…
