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Thailand: A Rapidly Ageing Populace will Continue to Undermine the Economy’s Growth Potential

February 19th, 2017

Thailand’s population is ageing at a much faster pace than its regional peers. This will aggravate the labour shortage issue the country currently faces and put pressure on public finances, via higher pension outlays and lower tax revenues. Furthermore, a generally poor rate of savings, an inadequate pension system along with Thailand’s culture, requiring families to look after their old has increased dependence of elderly people on working family members. Hence, the growing cost of healthcare becomes an extra burden on households that are already struggling with high debt levels, which has hampered household consumption and is negatively impacting the economy’s growth potential.

Chart 1 Government Finances in Thailand

 

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Roshni Wani Thapa

Roshni Wani Thapa isan Economies and Consumer Analyst at Euromonitor International. She focuses on critically evaluating economy, finance and trade environment in various countries; She provides detailed insights on the economic health of a country by analysing monetary indicators, imports/exports, investments as well as government finances. She has specialised in Economics and her passion for the subject enables her to provide unique actionable insights.

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