The Democrat Party's policy team recommends that the government deputy spokesperson openly and calmly listen to Korn’s proposals, learning from the lessons of 1991 to the current economic structure, warning that Thailand’s economy may "fall backward into a pitfall."
On 13 Oct 2026 GMT+7, Porntchai Maranet, member of the Democrat Party’s Policy and Strategy Committee, commented on the case where Ms. Lalida Perviwattana, Deputy Spokesperson of the Prime Minister’s Office, responded to the economic outlook of Korn Chatikavanij, a party-list MP and Deputy Leader of the Democrat Party. Korn expressed concern about Thailand’s economic prospects over the next five years. The government deputy spokesperson stated that current problems should not be taken to conclude that the country’s future will inevitably decline, calling such assessments incomplete for overlooking economic stability and new investment opportunities.
Porntchai emphasized that before the government deputy spokesperson hastily responds, she should carefully read and fully understand Korn’s post instead of selectively focusing on certain points merely to win political turf battles.
What Korn intended to communicate was not a wish for Thailand to suffer economic failure, but a desire for the government to recognize and understand structural risks. He drew important lessons from 1991, when Thailand hosted the World Bank and International Monetary Fund (IMF-World Bank) Governors’ Meeting for the first time. At that time, the economy appeared very vibrant, but just six years later, Thailand faced the 1997 Asian Financial Crisis.
"The key point Korn highlighted was that beneath the seemingly positive picture then, negative factors were hidden under the surface, and history proved those negatives caused serious harm," Porntchai said. Porntchai added,
Comparing this to current structural factors—such as the full transition to an aging society, high household debt levels, decreasing job-creating investments, and the disappearance of the 'Animal Spirit' in business and investment, meaning private sector confidence and willingness to invest—these all constitute even more concerning structural vulnerabilities than those in 1991.
Regarding Thailand’s economic risks over the next five to six years, Porntchai believes the decline may not come as a sudden crash like in 1997 but rather as a gradual fall into a pit. This type of decline is harder to correct because if the government chooses to turn its back on reality and on capable people with goodwill toward the country, it risks complacency and refuses to shift its mindset in governance.
Porntchai also urged the government that if it sincerely wants to listen to constructive opinions, it should send knowledgeable economists to engage in substantive discussions based on academic data, rather than sending people to respond merely for political gain or to discredit others. Such actions only undermine useful advice and perspectives beneficial to national development.
"Korn has consistently taken a clear stance against playing politics that incite hatred and has never encouraged supporters to attack anyone. His critiques are based on information and goodwill toward the country. Therefore, the government should carefully consider who to respond with and what level of intellect to apply when answering a senior figure who is a former finance minister and prime ministerial candidate, so as not to damage its own credibility and weight," Porntchai said. Porntchai concluded his remarks.