The Bank of Thailand unveils 3 clues as the Thai economy grows “concentrated”

  • The BOT governor reveals 3 facts that the Thai economy is not “concentrated” evenly, pointing to a factor causing high household debt. Stopping consumption – Thai economy

Dr. Setthaput Suthiwatanaruput Governor of the Bank of Thailand addressed in a special lecture
The topic “The Future of Thai Economy and Finance” states that the future of Thai economy and finance must grow thoroughly. and must not just grow up with just some people and hope
The growth will spread to the rest of the group.

But now, with structural problems that have accumulated for a long time This makes inclusive growth more necessary for the Thai economy. because if not thorough The inequality is high. The economy will be fragile, we won’t have growth to share widely. and will not be able to grow sustainably

“I’d like to invite you to think. in the current situation If we still focus solely on growth but not thoroughly Can we really grow up well?”

This is to give a clear picture of the problem. Before seeing a solution, we must first mention 3 facts about incompatibility.

Fact number 1 is that the top 50 richest families according to Forbes magazine have assets equal to 13 million households.

“Reflects the “gap” between the poor and the rich. that has been caused by the growth of income and wealth in specific groups for a long time.”

Fact number 2 is 50% of the profits of the entire business sector in the country. concentrated in only 600 large companies in
stock market reflect the advantages of large companies In particular, access to funding sources. Currently, more than 60% of SMEs in Thailand do not use credit services in the financial institutions, so SMEs are less likely to pursue large companies.

Fact 3 is almost two-thirds of the overall economy’s output. Concentrated in only 11 provinces, including Bangkok and its vicinities, as well as provinces producing innovative products such as Chonburi, Rayong, and tourist provinces such as Chiang Mai and Phuket, showing concentrated economic growth in some areas.

“From these facts We will grow up in the same way, hoping to rely on economic driving from just a few people. some business groups and some areas It’s not universal anymore. As can be seen from the last 40 years, in the 1980s we used to grow 10%, but in this decade, We have grown to less than 4% and will be even lower in the future without adjustments.”

Dr. Setthaput said that the growth has not been thorough in the past. resulting in household debt problems Most recently, it accelerated to a record high at 90% of GDP, with 1 in 3 Thais in debt. And the debt per capita has doubled from 10 years ago.

This high household debt is a drag on people’s consumption. If the income does not grow, the only way is to incur more debt to spend. But with the same high debt burden This makes it more difficult to incur more debt. Then the Thai economy will continue to grow with difficulty.

Read the original news: The Bank of Thailand unveils 3 clues as the Thai economy grows “concentrated”

Source: ประชาชาติธุรกิจ by

*The article has been translated based on the content of ประชาชาติธุรกิจ by If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!