A survey conducted by the National Statical Office is showing that Thailand’s civil servants hold an average level of debt 22-times greater than their annual income.
This amount of debt is in keeping with a steady, upward trend that similar surveys have charted over the past five years. In 2008, civil servants had an average debt of 18.2-times their annual income, whereas in 2010, that proportion had grown to 20-times their annual income.
The Bangkok Post is reporting that a majority of civil servants’ debts (54.7%) come from home loans. Automotive loans comprised another significant share of the debt burden (16.5%), as did personal loans (15.4%).
