Thailand prepares for ageing population

BANGKOK, August 10 (TNA) - The National Economic and Social Development Board (NESDB) has suggested that Thailand draw up family-development plans to take care of the country's ageing population after 2040. The NESDB assessed on Friday that about 25 per cent of Thailand's total population could be over 65 years old by 2040, when the country could also face an insufficient workforce to support the rate of domestic consumption, as the number of the elderly has been rising. The NESDB pointed out that Thailand's birth rate has been dropping, meaning that there will be reduced national workforce in the future, which will affect the country's long-term economic expansion. According to the NESDB, all agencies concerned in Thailand should, therefore, prepare measures to cope with the rising ageing population, including promoting savings to support the elderly's lives after their retirement. (TNA)