World Bank2017-06-132017-06-132012-12https://hdl.handle.net/10986/27085The Thai economy in 2012 rebounded from the severe floods but continues to be affected by the slowdown in the global economy. Real GDP in 2012 is projected to grow by 4.7 percent supported by the rebound in household consumption and greater investments by both the private and public sectors as part of flood rehabilitation and the government s consumption-stimulating measures. The economy is projected to grow by 5 percent in 2013 as manufacturing production fully recovers and the global economy sees a modest recovery. Exports in 2013 are therefore expected to grow by 5.5 percent compared to only 3.6 percent in 2012. Budget deficit will be 2.5 percent of GDP for FY2013 plus additional off-budget spending for water resource management projects in FY2013. Public debt is estimated to be close to 50 percent of GDP in 2013. The paddy pledging scheme is estimated to cost around 3.5 percent of GDP each year, while the actual losses will be realized once the rice stocks are sold. The minimum wages have been raised by 40 percent nation-wide in 2012 and will be raised to a uniform rate of THB300 per day. Developing higher skills is imperative for higher incomes, living standards, and for Thailand to grow sustainably and inclusively. Thailand can do better in enabling the poor and vulnerable groups to participate in productive economic activities by pursuing a coordinated approach between universal and targeted social policy.en-USCC BY 3.0 IGOACCREDITATIONAGRICULTURAL COOPERATIVEAGRICULTURAL COOPERATIVESAGRICULTURAL ECONOMICSAGRICULTURAL PRODUCTSAGRICULTURAL SECTORANTI-MONEY LAUNDERINGBALANCE SHEETSBANK OFFICEBANKING CRISESBANKING INDUSTRYBANKING SECTORBASIS POINTSBIASESBIDSBONDSBORROWINGBUDGET DEFICITBUDGETINGBUSINESS ACTIVITIESBUSINESS ENVIRONMENTCAPACITY CONSTRAINTSCAPITAL ADEQUACYCAPITAL FORMATIONCAPITAL INFLOWSCASH TRANSFERCASH TRANSFERSCCCENTRAL GOVERNMENT DEBTCERTIFICATION SYSTEMSCHAMBER OF COMMERCECOMMERCIAL BANKCOMMERCIAL BANKINGCOMMERCIAL BANKSCOMMODITIESCOMMODITYCOMMODITY PRICESCONSUMER GOODSCONSUMER LOANSCONTINGENT LIABILITIESCROP INSURANCECURRENT ACCOUNTCURRENT ACCOUNT BALANCECURRENT ACCOUNTSDEBT LEVELDEBTSDEPOSITDEPOSIT RATESDEPOSITORSDEPOSITSDEVELOPING COUNTRIESDISADVANTAGED COMMUNITIESDISBURSEMENTDIVERSIFICATIONDOLLAR VALUEEARLY CHILDHOODEARNINGSECONOMIC ACTIVITIESECONOMIC CRISISECONOMIC DEVELOPMENTECONOMIC GROWTHEDUCATION DEVELOPMENTEDUCATION SYSTEMEDUCATION SYSTEMSEDUCATIONAL LEVELEMERGING MARKETSEMPLOYEREMPLOYERSEMPLOYMENT OPPORTUNITIESENABLING ENVIRONMENTENROLLMENTENROLLMENTSENTREPRENEURSHIP OPPORTUNITIESENTREPRENEURSHIP TRAININGEQUIPMENTEQUIPMENTSEQUITY STAKEEXCHANGE RATEEXCLUSIONEXPENDITUREEXPENDITURESEXPORT GROWTHEXPORT MARKETSEXPORTERSFAMILIESFARMERFARMERSFARMING HOUSEHOLDFARMING HOUSEHOLDSFINANCIAL CONSTRAINTSFINANCIAL CRISISFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL MARKETFINANCIAL SECTORFINANCIAL SECTOR DEVELOPMENTFINANCIAL TRANSACTIONFISCAL POLICYFIXED CAPITALFOREIGN BANKSFOREIGN DIRECT INVESTMENTFOREIGN DIRECT INVESTMENTSFOREIGN FUNDFOREIGN INVESTMENTFUND MANAGERSGLOBAL ECONOMIC PROSPECTGLOBAL ECONOMIC PROSPECTSGLOBAL ECONOMYGLOBAL MARKETGLOBAL MARKETSGOVERNMENT BUDGETGOVERNMENT POLICIESGOVERNMENT POLICYGROSS DOMESTIC PRODUCTGROWTH RATEHOLDINGHUMAN CAPITALHUMAN DEVELOPMENTINCOME GROUPINCOME GROUPSINCOME INEQUALITYINCOME TAXINCOME TAX EXEMPTIONINCOMESINEQUALITIESINFLATIONINFLATION RATESINFORMAL WORKERSINFORMATION CONSTRAINTSINFORMATION SYSTEMSINFORMATION TECHNOLOGYINFRASTRUCTURE INVESTMENTINFRASTRUCTURE PROJECTSINSURANCEINSURANCE COMPANIESINSURANCE CORPORATIONINSURANCE INDUSTRYINSURANCE MARKETINSURANCE PREMIUMINSURERSINTEREST COSTSINTEREST PAYMENTSINTEREST RATESINTERNATIONAL MARKETINTERNATIONAL STANDARDSINVESTINGINVESTMENT CLIMATEINVESTMENT LOANINVESTMENT PROJECTSISLAMIC BANKJOB CREATIONKEY CHALLENGELABOR FORCE SURVEYLABOR MARKETLABOR MOBILITYLAND REFORMLIFE INSURANCELIQUIDITYLIQUIDITY POSITIONSLIVING STANDARDSLONG TERM DEBTMANUFACTURING INDUSTRIESMARKET CAPITALIZATIONMARKET DEVELOPMENTSMARKET INFORMATIONMARKET PRICEMARKET PRICESMARKET SHAREMINIMUM WAGEMINIMUM WAGESMONETARY POLICYNATURAL DISASTERNATURAL DISASTERSNET CAPITALNON-PERFORMING LOANSNPLNUTRITIONOIL PRICEOIL PRICESOPERATING COSTOPPORTUNITIES FOR WOMENOUTPUTSPENSIONPENSIONSPERSONAL INCOMEPOVERTY ALLEVIATIONPRICE INSURANCEPRIVATE INVESTMENTPRIVATE INVESTMENTSPUBLIC DEBTPUBLIC INVESTMENTPUBLIC INVESTMENTSPUBLIC SPENDINGRECEIPTRECEIPTSREGULATORREGULATORY FRAMEWORKREPAYMENTRETURNRETURN ON ASSETRETURN ON ASSETSRETURNSRISK MITIGATIONSKILLED WORKERSSKILLS SHORTAGESSOCIAL DEVELOPMENTSOCIAL PROTECTIONSTOCK EXCHANGESTOCKSSUPPLY CHAINTAXTAX RATETERRORISMTOTAL DEBTTRADE BALANCETRADINGTRADING VOLUMETRAINING CENTERSTRANSACTIONTRANSACTIONS COSTSTRANSPARENCYTURNOVERUNEMPLOYMENTUNIONVOLATILITIESVOUCHERSVULNERABLE GROUPSWORLD TRADEReportWorld Bank10.1596/27085