BANGKOK, May 17 (Reuters) - Thailand’s household debt is expected to fall gradually as the economy is recovering and car buyers under a government subsidy scheme are repaying loans, the central bank governor said on Wednesday.
The ratio of household debt to gross domestic product dropped for the first time in late 2016 to 79 percent from more than 80 percent, Bank of Thailand Governor Veerathai Santiprabhob told reporters.
“If the economy is recovering steadily without bumps, household debt will be on a downward trend but still slowly,” he said.
The car scheme ended in 2012, when domestic car sales surged about 81 percent.
Reporting by Kitiphong Thaichareon; Writing by Orathai Sriring; Editing by Jacqueline Wong