Author Topic: Thailand faces ageing population  (Read 1068 times)

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Offline Johnnie F.

Thailand faces ageing population
« on: August 18, 2012, 04:10:51 PM »
Thailand faces ageing population

BANGKOK, Aug 18 (Bernama) -- Thai former deputy prime minister Kosit Panpiumrat has warned that Thailand's population is ageing as the percentage of the elderly has increased and people of working age is declining, Thai News Agency reported.

Speaking at a seminar on population development under the 11th National Economic and Social Development Plan 2012-2016, Kosit said the Thai population should stop growing and remain at 66 million, and that by 2027 people of working age should bear the burden of supporting children and the elderly.

Kosit suggested the government's macroeconomic policies include welfare cost for the elderly, and that populist policies are necessary for the country's short term economic stimulation.
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Offline nookiebear

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Re: Thailand faces ageing population
« Reply #1 on: August 19, 2012, 04:34:49 AM »
It seems like part of the 'ageing population' has now taken to the streets & bars in Pattaya...Woof,Woof
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Offline Johnnie F.

Re: Thailand faces ageing population
« Reply #2 on: August 10, 2013, 08:25:07 AM »
Aging Population

Plan now for ageing population, NESDB director urges

The director of the National Economic and Social Development Board has urged state agencies to draw up a family-development plan that anticipates a highly dependent population after 2040, as academics expect Thailand to have a workforce insufficient to support the rate of consumption as the number of elderly people rises.
Speaking at a workshop on "Household Savings and Change in Population Structure" yesterday, Kosit Panpiemras said that by 2040, a quarter of Thailand's population could be over 65 years old.

The country's birth rate is dropping. That means there will be fewer working-age people in the future, affecting long-term economic expansion, said Kosit, who is also Bangkok Bank chairman.

By 2040, it is estimated that the average age of Thai males will be 75.3 years, while the female average is predicted at 81.9 years.

Thai state agencies should consider promoting sufficient savings to support life after retirement, he said, noting that changes in Japan's population structure later caused economic problems.

Japanese Prime Minister Shinzo Abe has said that an economy that is boosted by fiscal and monetary policies does not sustain like one with manufacturing productivity, population structural planning and savings, he said.

"We have to change our mindset. We have to raise awareness of quality family planning, what the government and families should do. It's not only investment or infrastructure development," he said.

Mattana Pananiramai, a member of the National Committee for the Elderly, said that as people got older, their saving capacity declined.

If the average income per worker and rates of consumption remain the same, a rise in savings capacity needs increases in labour productivity.

At present, Thai elders depend on their children, while government assistance is insufficient.

Based on a study, Thai people's average lifetime income in 2009 was lower than their average lifetime consumption expenses. However, that consumption deficit was slight, given the higher number of working-age people.

But by 2040, the number of elderly people is projected to be more than the number of working-age people, so the consumption deficit is expected to widen significantly.

Nawaporn Wiriyanupong, a representative of the Ministry of Finance, said that based on these data, the government raised its budget for assisting the elderly from Bt10.63 billion in 2007 to Bt53.61 billion in 2012.

A rise in the number of elderly people could undermine fiscal stability, she said.

The Nation

"By 2040, it is estimated that the average age of Thai males will be 75.3 years, while the female average is predicted at 81.9 years." :spin
Average age or average life expectancy? :uhm
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