# BOT Governor Calls for Enhanced Economic Growth Standards

- Link: https://www.thailand-business-news.com/banking/162511-bot-governor-calls-for-enhanced-economic-growth-standards
- Published: 2024-09-15T04:25:00+07:00
- Author: Bahar Karaman

**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.

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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.

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**Source** : [BOT governor urges new economic growth standards](https://www.nationthailand.com/business/economy/40041473?rand=157030)