Financial circles: 10 July 2023

2023-07-09 19:00:00

nn The day before Forbes Thailand revealed the top 50 Thai billionaires of the year 2023 … found that while the Thai economy is still facing risks from many factors and a low growth rate since the outbreak of COVID- 19…but in 2023…but the total wealth of the 50 Thai billionaires increased by almost 15% to $ 1.73 billion…equivalent to regarding 13.74 trillion baht…and if counting only The top 10 have total assets of regarding 5.12 trillion baht (exchange rate 35 baht / US dollar)….!! The annual budget of Thailand is regarding 3.1-3.3 trillion baht…Gross Domestic Product (GDP) is regarding 17 trillion baht…10 Is there anyone in the wealthy family?… Sort of. 1-10…is… The Chearavanon family, Yuwitthaya, Sirivadhanabhakdi, Chirathivat, Ratanavadi, Chaiyawan, Prasarttong-Osoth, Srivaddhanaprabha, Ahunai and Osathanugrah….!! Looking back at another corner … 3 days before that, Ms. Suwannee Jetsadasak, assistant governor Financial Institution Supervisory Division The Bank of Thailand (BOT)…presses a press conference that the BOT is closely monitoring the household debt situation and pushing forward the implementation of debt relief measures…because the latest figure (Q1/23) household debt is at 16 trillion baht or 90.6% of GDP

….!! I believe that these two scenes would reflect many things for us to see…if anyone still can’t figure it out…take a look at the numbers of Thai people who enter and receive the privilege of “poor people card”.. .From the first distribution with open-ended rules…regarding 11 million people have been granted rights…following that, new rights have been opened with stricter rules such as…must combine revenues The whole family, if below the poverty line, will receive the right… It was found that there were Thai people queuing up to receive the “poor people’s card” which increased to approximately 14-15 million people…!! Really good management The government…but if you want to argue that it can make the economy grow per year (2-3%)…!! Then..financial circles..just one question…wealth is in whose pocket is it?…does the majority of people of the country also receive this benefit????….if you look at it In the macro picture than that…the current public debt figure is regarding 10 trillion baht or regarding 60% of GDP….most of which have increased during the past 8-9 years…until making you bewitched. Term Pittayapaisith The Minister of Finance ..must propose to the Cabinet to increase the debt ceiling from 60% to 70% …those money that is used in the administration of the country…to build various large projects…and to deal with COVID-19 (1.5 trillion baht)….the result is why most of the country’s people are poorer and there are more poor people…but less than 1% of people are wealthier…at a rate higher than the growth of GDP… up to 500% (GDP grows 3%, wealth increases 15%)… !! At this point, what…financial circles…understand is….knowing that the result of the election reflects that more than 26 million Thai people vote and therefore “want to change”…nn

Anantadet Pongphan

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