Higher incomes record more debt

Government employees, farmers and private sector employees are the most indebted, primarily because of home and car purchases, according to a 2024 survey conducted by the Trade Policy and Strategy Office (TPSO).

- PHUSADEE ARUNMAS

The survey of 6,291 respondents regarding their debt burden last year indicated a slight improvement from 2023, with a reduction in informal debt. The survey found 51.5% of respondents reporting outstanding debt, a decrease from 62.5% in 2023.

In terms of occupations, 68.2% of government employees are carrying debt, followed by 57.2% of farmers and 53.4% of private sector employees, similar to the 2023.

Students and retirees had the lowest debt burdens at 20.5% and 26.7%, respectively.

The majority of respondents expressed a desire for government intervention to reduce interest rates, said Poonpong Naiyanapakorn, director-general of TPSO.