Mr. Arkhom Termpittayapaisith, Minister of Finance, delivered a keynote speech titled "Decoding Courage: Transforming Thailand on the Global Stage" at the event announcing the new stance and role of "EXIM BANK: Uniting Brave People for Development for Thais." He stated that Thailand's economy is showing signs of recovery this year compared to the past 1-2 years, with a projected GDP growth of 3.4% and an export growth of 8.1%. Exports play a crucial role in driving Thailand's economic growth, supported by government agencies and the role of EXIM BANK in promoting significant trade and investment values essential for national development. This is based on developing domestic foundations, including infrastructure and regulations that foster an efficient trade and investment ecosystem, as well as promoting research and development to elevate Thai industries into the future, aligning with global megatrends.

Regarding the recent interest rate hikes by the Federal Reserve, Thailand must maintain its economic stability. Currently, the Bank of Thailand is assessing the impact on various sectors to mitigate the effects on the public. The COVID-19 pandemic has significantly reduced income for individuals and businesses, affecting their debt repayment capabilities. Although the economy is starting to improve, debt issues persist. Meanwhile, state banks are working to keep loan interest rates low for as long as possible to alleviate the burden on citizens.

Recently, the Ministry of Finance organized the Debt Relief Fair to help citizens address their debt structure issues with all state banks. This event will be held five times, allowing borrowers from state banks to participate either at the event or at the branches of their respective creditor banks. The first event will take place at Muang Thong Thani from November 4-6, the second in Khon Kaen from November 18-20, the third in Chiang Mai from December 16-18, the fourth in Chonburi from December 20-22, and the fifth in Songkhla from January 27-29, 2023.

The event will feature three main activities:

1. Addressing existing debt issues, including debt restructuring or adjusting repayment terms to alleviate the debt burden for citizens and entrepreneurs in line with their reduced income.

2. Generating income through job creation or supplementary occupations to help increase income for citizens and entrepreneurs, making it sufficient for debt repayment. This can reduce household debt issues in the long term and allow for additional loans to be used as working capital or investment sources.

3. Building resilience among citizens by promoting skills for employment, ensuring they can achieve sufficient and stable income, and enhancing financial literacy to raise awareness about financial planning and promote proper financial management. This will help citizens understand debt and plan their finances effectively.

Additionally, there will be other interesting activities throughout the event, such as credit information checks by the National Credit Bureau, sales of NPA assets by financial institutions, and seminars providing business knowledge by experts.

As for the overall bad debt situation in the financial system as of mid-year, it remains stable compared to the previous year, with bad debt totaling 850 billion baht, accounting for 3.47% of outstanding loans of 24 trillion baht. Of this, bad debt from private banks amounts to 520 billion baht or 3% of total loans, while state banks have bad debt of 300 billion baht or 5% of total loans.