Effective education key to escaping middle income trap, ADB says
Thailand faces more challenges as it strives to improve the economy and people’s incomes for the long term as it struggles to move up from being a middle-income country, the Asian Development Bank says. For the short term, the ADB has predicted that Thai exports will expand by 3 per cent this year, following zero growth last year. Luxmon Attapich, senior economist at the ADB Thailand Resident Mission, said on April 20 that rising demand overseas would allow exports to play a significant role in driving economic growth here, with gross domestic product forecast to rise by 3.5 per cent this year, up from 3.2-per-cent growth in 2016. GDP growth next year is expected to be 3.6 per cent.
