Thailand must bolster its revenue collection in the long term to meet growing public spending needs stemming from an aging population. Government expenditure on pensions, healthcare, education and climate adaptation will need to increase and this must be achieved without constraining economic growth and keeping public debt under control. The World Bank recommends a series of progressive tax reforms that could collectively increase revenues by 3.5 percentage points of gross domestic product for Southeast Asia’s second-largest economy. Thailand’s public debt has risen to more than 60% from about 40% before the pandemic after the nation ramped up borrowing to tackle Covid outbreak and fund stimulus measures. (ICE BANGKOK)

Fonte notizia: Bangkok Post