The Democrat Party's economic team challenges the government not to be misled by credit rating praise and urges government spokespeople to visit communities themselves to ask if the economy and people's incomes are truly as good as they claim.
On 14 Oct 2026 GMT+7, Mr. Teerarat Sirichantaropas of the Democrat Party's economic team addressed the government deputy spokesperson's rebuttal of Mr. Korn Chatikavanij, Democrat Party deputy leader. He suggested the government should be open to dissenting views rather than trying to protect its own image and should not treat criticism as merely political. The government should ask ordinary citizens, small business owners, farmers, and workers nationwide whether Thailand’s economy is really improving as claimed, whether people's incomes are rising, and how the quality of life for the middle and grassroots classes has changed. He believes if the government deputy spokesperson left their air-conditioned office and spoke directly with the public, they would find many Thais do not feel the economy has improved, still facing high living costs, declining purchasing power, and incomes that barely cover expenses.
Mr. Teerarat said the Democrat Party is reflecting reality, not accusing the Thai economy of entering a crisis like in 1997, but warning of emerging structural vulnerabilities and risks that Thailand may lose its competitiveness over the long term.
He cautioned the government not to be enamored with rising investment figures in Data Center and AI sectors, questioning how much these funds truly benefit the grassroots economy and create quality employment for Thai people. The concern is not just the low economic growth rate but that Thailand lacks a new economic engine to clearly generate jobs, income, and new opportunities for many citizens.
Mr. Korn cited lessons from 1991 to show that although Thailand’s economy then grew by around 8% annually, ignoring hidden vulnerabilities led to the later 1997 Asian financial crisis. Therefore, we should not repeat past mistakes but instead ask what hidden risks might harm the country in the next 4-5 years. What will drive Thailand's growth? Where will new jobs come from? How will incomes increase? We try to alert the government that Thailand faces risks causing foreign critics to label it the 'sick man of Asia' due to persistently low growth below potential. Ultimately, citizens bear the cost of lost opportunities. The government must answer whether in five years Thais will have better jobs, higher incomes, and a brighter future. ."