The elderly participate in a water pouring ceremony on National Elderly Day during Songkran. The proportion of the population aged 60 or older is expected to increase over the next decade. Somchai Poomlard
Finance Minister Arkhom Termpittayapaisith is concerned a great number of Thais risk an uncomfortable retirement as nearly 40% of the population is prone to spend rather than save.
He said the Covid-19 outbreaks have worsened Thailand’s fragile household debt levels.
Speaking yesterday at a seminar on financial literacy, Mr Arkhom said Thailand’s household debt surged to 86.6% of GDP in the third quarter of 2020 because of the impact of the outbreaks, up from 78.9% in the same…
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