"Stay in debt, no trees, no flowers" seems to be a popular policy that every political party packs into the campaign package.

Hoping to pull the group of debtors in the system

both in the public and private banking systems

Including in many Non-Bank systems

to be converted into votes in the election

Having said that, the household debt crisis

It is considered a great crisis for the Thai people.

another story

that has become a national problem

Causing the economic system to not be able to move forward fully

internal purchasing power

which is another main engine to drive the economy

greatly shrunk

Information from the Bank of Thailand (BOT) year-end report at the end of Q3/2022

Found that Thai household debt amounted to 14.90 trillion baht or 86.8% of GDP.

increased all indicators

whether it is a loan from a commercial bank

Balance of loans from specialized financial institutions accepting deposits

Loans from savings cooperatives

or loans from credit card companies, leasing and personal loans

which

Governor of the Bank of Thailand

expressed concern that

Today, household debt is higher than what the National Bank wants to see.

The solution must look at the whole system.

It's not a carpet fix.

And should not create additional burdens for the debtor, such as debt suspension that does not cause the debt burden to disappear

flowers still running

It's the same as the last warning issued by the NESDB.

Mr. Danucha Pichayanan,

Secretary-General of the National Economic and Social Development Council (NESDB), expressed concern.

campaigning policy

moratorium on debt payments of various political parties

It may affect the banking and financial system of the country as a whole.

That may cause a condition known as "Moral Hazard" or moral hazard.

is someone who is able to pay the debt

turn to stay in debt and refuse to pay debt as well

The secretary of the NESDB suggested that the right approach was

must go in and solve individually

Help debtors on an individual basis as appropriate.

that will not affect the overall financial system of the country

The NESDB also predicted that

The Thai economy in 2023 will expand at 3.2 percent, lower than the 3.8 percent

expected by the Ministry of Finance.

This is because the export sector is continuously negative and government consumption is expected to shrink by 1.5 percent, as well as negative factors from the global situation.

The more it affects the snake eating the tail.

and further exacerbate the crisis

In addition to the National Bank

And the NESDB will be concerned about the fiscal discipline of those black-eyed debtors.

The best way should be to find a way to fix regulations or rules that allow these financial groups to take advantage of them and demand fines.

Or automatically charge interest from debt suspension

It creates an additional debt for the villagers wrongfully.

Because some people are not willing to give a break to pay their debts.

with regret

take care of these financial institutions

who wants to take advantage of the villagers

No matter what, they threw the drums at the people.

solar fire