“Kobsak” pointed out the capital market system of the past era. Accumulation of problems - disparities - unsustainable Supporting the concept of building strength at the foundation slow to set up government Affecting the annual budget approval plan, postponed for 3 months, supporting the preparation of Plan 2 to find reserve funds
Dr. Kobsak Pootrakool Executive Vice President and company secretary Bangkok Bank Public Company Limited said during the lecture titled "The direction of the Thai economy, finance, Thai capital market in the dimension of sustainable development", which is part of the training program for the development of high-level journalists' potential for the year 2023, organized by Bangkok Bank in conjunction with the Economic Journalists Association. which is the main idea driving economic development in the past Despite creating economic growth in various areas Including improving the lives of the people over the decades. But at the same time, it created many problems. Whether it is environmental problems, forest encroachment, pollution problems, PM2.5, scarcity of water resources. the weakened countryside labor problems in urban communities And the inequality in various dimensions of development reflects that it is an unsustainable development. And there is no concrete way to solve this problem.
In addition, there is wealth disparity among people in Thailand, for example, in the past 25 years, the top 20% of high-income people and the bottom 20% of low-income people have seen a 10-fold difference in average wealth growth. and there is a 300-fold difference in land ownership, or there are about 1 million accounts with more than 1 million baht, accounting for less than 1% of the total 110 million accounts, but these accounts have a proportion of deposits. more than 70% of the total deposit amount
Developing the economy to grow is a good thing. It is important to the development of the country and the livelihood of the people. is important But that's not all. Because at the same time it has made us accumulate many problems in the past, we may have looked at this system too well. So it became like “Unsuccessful success” We used to think that we developed from the top and it would send to the bottom for good. But what I saw today reflected that it wasn't. And even if we don't start changing from today, the next 20 years will be very difficult to live together. That's why we need to talk about it. “Sustainable development” seriously
Dr. Kobsak said that the idea that should be the starting point to solve this problem should start creating. "Strength from the foundation" by having to understand deeply at the community level that must seriously solve problems in 3 issues: 1.) informal debt problems which charges a very high interest rate that there is no way to repay the entire principal Causing people who enter this cycle to not easily fall out 2.) The problem of the middleman system. occupying too much of a difference that only a small amount of income goes to farmers who are producers; and 3.) the lack of knowledge and new innovations that will help raise production efficiency.
Therefore, the solution to the problem by creating Therefore, it should be encouraged to: 1.) Build strong community leaders who can advise people to understand. in order to solve the problem in the right way especially the foundation of savings and preventing informal debt problems and sell products directly to consumers Which may bring technology to help, such as E-Commerce and 3.) Should support the private sector to directly support the community and the agricultural sector. There are clear and sustainable guidelines, such as finding a market to support agricultural products directly. at a reasonable price And may promote by providing tax benefits to incentivize the private sector to do more in this manner etc.
At the same time, the government should help reduce regulatory and legal restrictions that are obstacles. To make the development in new dimensions easier to occur is important. Rather than a policy or money-government measures that do not help solve the problem sustainably, it is a problem for the new government that is about to step in to manage the country.
Dr. Kobsak also spoke about the short-term economic situation while waiting for the establishment of the new government. At present, the Thai economy is in a continuous recovery. The recovery of the tourism sector continues to be the main driving force until the end of the year when the tourist season is over. which will increase the number of Chinese tourists coming to Thailand Thus helping to compensate for the affected export and manufacturing sectors. The key issue of the government during this period is to encourage tourists to enter Thailand more easily, such as allowing tourists with visas to travel to neighboring countries in ASEAN. Can travel to Thailand automatically as well which is a measure that can be implemented easily and quickly, etc., and most importantly, when the tourism sector helps stimulate the economy to move forward will help generate income in the country to continue to spin as well People have confidence and dare to spend, which is another positive effect on domestic consumption as well.
“It is believed that the government establishment problem will result in the delay of this year's budget approval by about 3 months. Therefore, it should not affect the overall economy much. And should not pressure the economy to grow much. But at a level that supports each other to pass together more Then, when the government was successful able to approve the annual budget Should help stimulate the economy in the first quarter of 2024, it's still time to drive the economy forward. But the problem of government establishment should not be delayed for years,” Dr. Kobsak said.
Source: Thai News Agency