Saturday, August 19, 2017 - 5:03:57

WB: Thailand needs 20 years to become high-income country

VNA Print

Illustrative image (Source: VNA)
Hano​i (VNA) – Thailand will take 20 years before it can be considered a country with high earnings, the World Bank has said.

According to a survey of poverty by the Poverty and Human Development Poverty and Human Development, East Asia and Pacific Program with the World Bank, there are almost 7.1 million Thais who are extremely poor at present.

The economic slowdown along with the drop in farm prices, low competitiveness, and political instability will undermine investor confidence.

As a result, it will take Thailand no less than 20 years before the country could gain the high earning status.

The World Bank advised the Thai government to adopt three possible solutions to solving these problems.

They include supporting measures to increase the income of the poor, develop better farm production, and increase employment rates.

These solutions could be achieved through intensive government investment in basic infrastructure, technology and innovation.-VNA
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