BOT Governor Advocates for New Economic Growth Standards
Speaking at a seminar organized by Thai Publica, BOT Governor Sethaput Suthiwartnarueput emphasized that Thailand needs new economic growth models focusing on household wealth. He underlined that the country can no longer rely solely on foreign investment and must develop its domestic strengths. Key issues include the discrepancy between GDP growth and household wealth and high business sector concentration, leading to a need for localism-driven development.
Speaking at the seminar titled 'BIG HEART, BIG IMPACT: CREATING OPPORTUNITIES FOR SMALL PEOPLE: POWER OF PARTNERSHIP, HAND IN HAND,' organized by Thai Publica, BOT Governor Sethaput Suthiwartnarueput stressed that Thailand needs to adopt new economic growth models different from its historical approaches.
Governor Suthiwartnarueput emphasized that Thailand’s growth should not be about merely increasing GDP but should reflect the wealth of households.
He advocated for 'localism' as a new driving force for development, highlighting that recent economic growth in Thailand has not significantly improved living standards for many households and forecasted a slowdown in future growth rates.
Key issues noted include the lack of correlation between GDP growth and household wealth, high business sector concentration, and a decline in foreign direct investment, necessitating a focus on domestic strengths.
Governor Suthiwartnarueput emphasized that Thailand’s growth should not be about merely increasing GDP but should reflect the wealth of households.
He advocated for 'localism' as a new driving force for development, highlighting that recent economic growth in Thailand has not significantly improved living standards for many households and forecasted a slowdown in future growth rates.
Key issues noted include the lack of correlation between GDP growth and household wealth, high business sector concentration, and a decline in foreign direct investment, necessitating a focus on domestic strengths.
