Inflation will wipe out economic gains
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I am delighted that Thailand will earn more than four times it does now (whether based on GDP or per capita income) in the next 40 years, but this will be based on the condition that inflation must rise less than four times from now.
However, I am concerned about lower income people and the poor. These groups are in debt or have no savings. Disparity of income has been a chronic problem for over half a century since the first national economic and social development plan in 1961. If the government leaves the situation as it is – the richest 20 per cent of the population receive almost 60 per cent of all income while the poorest 20 per cent receive only 4 per cent), development will be successful in terms of growth and competitiveness only, but will still fail to solve the problem of inequality of income.
Over the next 40 years, will Thai people be proud of this development?
Sutipunt Bongsununt
Kanchanaburi
