date:Aug 27, 2014
household debt levels this year were as high as 82.3 percent of gross domestic product, up from 75.5 percent in the first quarter of 2013, said Somsak Kangteerawat, senior executive vice president of the Bank of Agriculture and Agricultural Co-operatives (BAAC). Therefore, the BAAC has come up with this scheme to tackle household debts, which are not in the main financial system, he told reporters, adding that loan sharks charged interest rates ranging from 36 percent to 60 percent per year.
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