Thailand’s deputy central bank governor highlighted the urgent need to address credit access issues for small and medium-sized enterprises (SMEs), crucial for the economy. Speaking at a seminar, Ronadol Numnonda noted that SMEs, which constitute over a third of Thailand’s economy and about 70% of its jobs, face structural barriers in securing credit. Only less than half of 3.2 million SMEs can access loans from financial institutions. Despite a contraction of 5.1% in SME loans in the first quarter of 2024, the government plans to facilitate THB50bn (USD1.372bn) in credit guarantees to help SMEs. The focus remains on structural reforms over rate cuts or fiscal stimulus to boost productivity, aligning with the views of the new Finance Minister, Pichai Chunhavajira, who prioritises credit access over interest rates.