At a seminar, BOT governor Sethaput emphasized Thailand needs new growth models focused on household income and localism, warning against reliance on GDP and foreign investment due to stagnating living standards.
At the seminar “Big Heart, Big Impact: Creating Opportunities for Small People,” BOT governor Sethaput Suthiwartnarueput stressed the need for Thailand to adopt new growth models. He argued that economic progress should prioritize the wealth of households over mere GDP figures, advocating for a shift towards grassroots development.
Sethaput highlighted that the past decade’s GDP growth has failed to enhance living standards for many. He cautioned that future growth may slow if the focus remains solely on economic statistics instead of household income.
Moreover, he pointed out several challenges facing Thailand, including increased concentration in the business sector and reduced foreign direct investment. He emphasized the importance of leveraging domestic strengths to foster economic resilience in this evolving global landscape.
