Over 6.7 mil people have been classified as living in poverty in SE Asia's 2nd-largest economy. FMTNews Thailand WorldBank Poverty
Country has faced challenges from strong currency, drought and most recently the coronavirus outbreak.
The Thai poverty rate rose to 9.8% from 7.2% between 2015 and 2018, and the absolute number living in poverty advanced to more than 6.7 million from 4.85 million, the multilateral lender said in a statement. The report said Thailand’s gross domestic product growth rate has been lower than other large economies in the developing East Asia and Pacific region. It added that drought has affected farmers, already one of the poorest segments of society.
Thailand is the only nation in the Southeast Asian region to experience several increases in poverty since 2000, according to the statement. Over the longer term, the poverty rate declined from more than 65% in 1988 to less than 10% in 2018.
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