Household debt is expected to fall gradually as the economy is recovering and car buyers under a government subsidy scheme are repaying loans, Bank of Thailand Governor Veerathai Santiprabhob said on Wednesday.
The ratio of household debt to gross domestic product dropped for the first time in late 2016 to 79% from more than 80%, he told reporters.
"If the economy is recovering steadily without bumps, household debt will be on a downward trend but still slowly," he said.
The first car scheme ended in 2012, when domestic car sales surged about 81%.