Bangkok: "Phao Bhum" reveals figures, debates "Sirikanya's" rhetoric, economy is bad, uses scientific figures to confirm, don't just use attacking rhetoric. Mr. Paopum Rojanasakul, Deputy Minister of Finance, addressed the concerns raised by Ms. Sirikanya Tansakul, a party-list MP of the Prachachon Party, regarding the perceived failures in the country's economic management. He clarified that the economy has shown consistent growth, supported by scientific figures, contrary to the negative rhetoric.
According to Thai News Agency, Mr. Rojanasakul highlighted the country's gross domestic product index in 2024, illustrating growth with a 1.7% increase in the first quarter, 2.3% in the second quarter, 3.0% in the third quarter, and 3.2% in the fourth quarter. This data counters claims of economic decline and reflects a robust economic trajectory.
The Deputy Minister further emphasized the positive impact of the government's digital wallet project. The collection of value-added tax (VAT) saw significant increases in the first five months of fiscal year 68, with retail sales VAT up by 31.5%, financial services by 38.7%, warehouse transportation by 26.5%, accommodation by 24.5%, construction by 15.8%, and transportation by 66%.
Addressing claims that workers' incomes were stagnant, Mr. Rojanasakul pointed out the rise in personal income tax collection. Salaried workers saw a 5.9% increase in Form Por.Ngor.Dor.1, while the freelance occupation group experienced a 2.8% rise in Form Por.Ngor.Dor.90. Additionally, contract workers reported a notable 19.0% increase in income tax collection.
In response to assertions about state banks not lending, the data showed growth in lending activities. The first quarter of 2024 saw a 3.3% increase compared to the same period in 2023, with subsequent quarters showing growth rates of 3.8%, 4.1%, and 3.8% respectively. Moreover, January 2025 witnessed a 102% growth in new business openings and an 8.98% increase in registered capital.
Mr. Rojanasakul concluded by urging the public to rely on numerical data and scientific evidence rather than rhetoric, reinforcing the narrative of a steadily improving economy.