Government Debt to GDP in Thailand averaged 44.58 percent from 1996 until 2015, reaching an all time high of 57.80 percent in 2000 and a record low of 15.20 percent in 1996.
The rate increase was the seventh in a row, averaging 0.06 percent rise monthly for the past ten months.
The shortage of skilled workers is especially pronounced in Thailand's key growth industries like the automotive, information communications and technology (ICT) and tourism sectors, the study shows.
Thailand was ranked the world's 46th best destination for ease of doing business, and third in Asean countries, according to "Doing Business 2017", the World Bank’s flagship publication.
While growth rate for the fourth quarter is expected to slow down, Thailand's growth rate for the whole year is expected to rise to 3.3 percent which is equivalent to last year’s rate.
Growth in developing East Asia and Pacific is expected to remain resilient over the next three years, according to a new World Bank report., as Thailand growth is forecasted at 3.1% in 2017 and 3.3% in 2018
Thailand’s economic growth in 2016 has been revised up slightly to 3.2%, due to a better-than-expected private consumption growth in the second quarter
The Thai government is working hard to promote “Thailand 4.0,” a new economic model, aimed at pulling Thailand out of the middle-income trap, and developing it as a high-income country.