Joseph Lim Aug 26
#Thai #government planning unit sounds alarm
"secretary-general of #NESDC noted tt some lending applications now allow #borrowers to pay in instalments for restaurant meals or even fuel. In reality, such expenses shld be paid in full, not in instalments, he said.. govt must step in & find ways to address tis.. #Survey #data also revealed.. Between 2022 & 2024, #permanent #parttime #positions grew fr 6% to 42%, while contractual/temporary part-time #jobs rose fr 4% to 28%"
https://www.bangkokpost.com/business/general/3092817/thai-govt-planning-unit-sounds-alarm-on-buy-now-pay-later-trend
Joseph Lim Jun 10
#Baddebt from #unsustainable #consumerism
"Danucha P, secretary-general of #NESDC, said tt in 4Q 2024, #household #debt totalled THB16.4tril, showing a 0.2% growth cf to te same period last year.. largely due to tighter lending stds.. Danucha said 1 issue tt needed to be addressed was Thais' tendency to #consume #luxuriously, which can easily lead to excessive debt.. survey by Mahidol found tt 1 in 3 #Thais prefer to #spend their money on #luxurygoods & #premium services"
https://www.bangkokpost.com/business/general/3045872/call-for-measures-to-halt-surge-in-bad-debt
Call for measures to halt surge in bad debt

The National Economic and Social Development Council ( NESDC ) wants to improve the conditions for debt restructuring to prevent special mention ( SM ) loans from deteriorating into non-performing loans ( NPLs ), after a noticeable increase in the former in last year's fourth quarter.

Bangkok Post
Joseph Lim Dec 27, 2024
#GDP figures don't reflect real situation
"GDP accts r unaudited & #NESDC is not an independent organisation. This article will qn the #reliability of NESDC.. Bank of #Thailand attempted to counter e contracting #credit situation.. Some THB610bil new #liquidity was released in Sep-Oct. Unfortunately, #banks kept THB550bil of it in #deposits & used the rest to buy #government #bonds.. 🇹🇭 monetary #policy is now officially #ineffective, ie, e #economy is in a #liquiditytrap"
https://www.bangkokpost.com/opinion/opinion/2927321/gdp-figures-dont-reflect-real-situation
GDP figures don't reflect real situation

<p>This article is the last for 2024. I have made many bad predictions about the Thai economy throughout the year. Many became true, like the contracting credit market, the NPL explosion, and an ineffective cash handout programme. Many have not become true (or have they?). One was GDP growth. Instead of shrinking as I predicted, GDP growth rates improved from quarter to quarter. They were 1.6% for Q1, 2.2% for Q2, and 3.0% for Q3. And it is expected to be 3.5% for Q4 to fulfil the annual 2.6% growth projection.</p>

Bangkok Post
Joseph Lim Mar 5, 2024
Rules needed 'to rein in influencers'
"government shld rein in social media #influencers to prevent them from churning out #unethical or even #illegal content, suggested the Office of #NESDC .. latest #Thailand Social's Outlook on social media trends found the increased role online content creators & influencers have in the promotion of some #vices, such as online #gambling .. countries like PRC, UK & Norway have come up with #regulations on #socialmedia #content"
https://www.bangkokpost.com/thailand/general/2752859/rules-needed-to-rein-in-influencers
Rules needed 'to rein in influencers'

The government should rein in social media influencers to prevent them from churning out unethical or even illegal content, suggested the Office of the National Economic and Social Development Council (NESDC).

https://www.bangkokpost.com