Deputy PM Stresses Accurate Data Over GDP, Targets Inclusive Growth
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Deputy Prime Minister and Finance Minister Pichai Chunhavajira addressed the Prime Minister's statement that the Thai economy is trending toward growth exceeding 2.1 percent this year. He explained that compiling GDP data is the responsibility of agencies such as the Office of the National Economic and Social Development Council (NESDC) and various ministries, while his role is to analyze problems and set solutions. Pichai compared his work to a physician who must have accurate tools and data before diagnosing an illness, because a wrong diagnosis leads to wrong treatment. Therefore, the GDP growth rate matters less than having correct economic data so the government can assess and fix problems precisely. He added that even if the economy grows well, if the benefits do not reach the majority of people, the government must tackle inequality and make growth more inclusive, as this is a worldwide challenge. Pichai also said that discussions with World Bank Group President Ajay Banga and IMF Managing Director Kristalina Georgieva revealed Thailand has opportunities from being part of the global AI industry supply chain, allowing some businesses to grow well — the upper arm of the K-shaped economy. However, the key challenge is supporting the lower arm so that most citizens and businesses benefit from economic opportunities and can grow alongside those gaining advantages from technology and global investment.
