Bangkok: The National Economic and Social Development Council (NESDC) has raised concerns over the escalating issue of online debt in Thailand, with non-performing loans (NPLs) now reaching a staggering 1.3 trillion baht. The council has urged the government to implement stricter controls on "easy-to-borrow" loans to mitigate the risk of defaults.
According to Thai News Agency, Mr. Danucha Pichayanant, Secretary-General of the NESDC, presented data on household debt for the third quarter of 2025, indicating a stable debt-to-GDP ratio of 86.8 percent. However, there is a worrying decline in the ability to repay debts, particularly in the personal loan sector, where NPLs have exceeded 1.3 trillion baht, accounting for 9.4 percent of total loans. The NESDC has proposed that the government regulate lending through applications and "buy now, pay later" (BNPL) services by integrating service providers into the credit bureau system and setting a joint debt ceiling. Mr. Pichayanant also cautioned about the increasing defaults among middle- to high-income groups, attributed to the overly simplistic terms of online lending, which pose a financial risk.
In addition to the debt issue, the NESDC has identified "medical inflation" as a critical concern. Healthcare costs in Thailand are increasing 15 times faster than general inflation. The global healthcare inflation rate is projected at 10.3% by 2026, while in Thailand, it is expected to reach 10.8% in 2025. This surge is driven by the costs of modern medical technology, competitive compensation for medical personnel in private hospitals, and high pricing of medicines and supplies. The overuse of services by those with comprehensive health insurance policies further exacerbates the rising costs, impacting the public's cost of living.
The labor market is another area of focus, with the NESDC reporting over 39.6 million jobs by 2025. However, the employment rate has fallen by 0.5 percent compared to the previous year. The influence of artificial intelligence (AI) on job security remains a significant concern. The council recommends that the government establish guidelines for using AI to enhance workforce skills and link foreign investment to Thai businesses to create quality jobs. In response to medical inflation, the NESDC supports the Office of the Insurance Commission's (OIC) introduction of a "co-payment" system to curb unnecessary medical services and manage healthcare costs sustainably.