Tourists take a stroll on a beach in Phuket, Thailand, on August 14, 2021. (Photo: AFP/VNA) Bangkok (VNA) – Thailand will have to improve in three areas in order to handle key problems in the future, Finance Minister Arkhom Termpittayapaisith has said.
Speaking at the Fiscal Policy Office's (FPO) seminar on the topic of "From Pandemic to Endemic" this week, Arkhom said that the country's revenue collection system needed to be overhauled in order to ensure the country's sustainable revenue stream.
In addition, he said the business sector has to embrace digital technology to enhance its operations.
Thailand should also invest more in public health infrastructure to cater for the rising number of ageing people, as over-60s are expected to rise to 24 percent of the total population in next 10 years, he added.
Arkhom added that the COVID-19 pandemic has severely hit the Thai economy, especially the tourism sector. The country's revenue from foreign tourists accounts for 12 percent of Thailand's gross domestic product before the pandemic broke out.
Pornchai Thiraveja, the FPO's Director-General, said that the country's reopening on November 1 is expected to positively impact economic activities.
The FPO will update its economic forecast on October 28. Earlier, it had forecast economic growth of 1.3 percent this year./.
