Thailand’s cabinet has approved new debt relief measures to support households and small businesses struggling with financial burdens, Prime Minister Paetongtarn Shinawatra announced. The measures include suspending interest payments and reducing principal payments for loans overdue by up to a year. Eligible loans include housing loans under 5 million baht, car loans below 800,000 baht, and small business loans up to 5 million baht. Banks will also benefit from a temporary reduction in contributions to the Financial Institutions Development Fund (FIDF). With household debt at 89.6% of GDP, the government aims to alleviate financial pressures and stimulate economic growth.
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