Bold reforms are now needed to make the recovery more solid and inclusive, according to a new report by the Organisation for Co-operation and Development (OECD). Private consumption is projected to remain strong, despite the gradual phase-out of government relief measures and high levels of household debt. Further policy action to raise productivity will be key to support convergence towards higher income levels amid a declining working-age population. Recent developments have high- lighted the need for Thailand to build a more comprehensive social safety net to support vulnerable households. Stronger incentives are needed for both domestic and foreign investment in higher energy efficiency, renewables and green innovation.
