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The World Bank expects Thailand’s potential growth to be the lowest among Asean economies over the next 20 years because of the country’s ageing demographics and a slowdown in private investment.The potential growth of Thailand’s economy is expected to be around 3% for the next ...

Five industries experienced significant growth this year, while three others were suffering huge contraction, the Ministry of Commerce’s Department of Business Development said on Friday.Department director-general Oramon Sapthaweetham said that the five industries that saw the biggest expansion in the past year were:▪︎ Tourism (growing ...

Thai economic recovery faltered due to global headwinds as growth fell to 1.5 percent year-on-year in the third quarter of 2023, well below expectations according to the latest World Bank’s semi-annual Thailand Economic Monitor.Growth in 2023 was dampened by a contraction in goods exports as ...

The government has approved a mid-term financial plan for fiscal 2024-2029 with estimated average gross domestic product (GDP) growth at 5.3% annually, said a news source familiar with the matter on Thursday.The plan was approved at a meeting on Thursday at the Ministry of Finance ...

Thailand’s economy will continue to move forward with the global recovery momentum in the coming year, but it is still shaky when it comes to having a robust economy in the long term, according to an SCB Economic Intelligence Centre (EIC) report.EIC chief economist Somprawin ...

The Asian Development Bank (ADB) has lowered its economic forecast for Thailand in 2023 from 3.5% growth to 2.5%, citing export contraction, reduced government spending, and lower investment from both the public and private sectors.The ADB also revised down its forecast for the Thai economy ...

Thailand has unveiled the focus of its four-year strategy to attract foreign direct investment to boost its faltering economy: clean energy and incentives to offset the new Global Minimum Tax.Prime Minister Srettha Thavisin has embarked on an international roadshow since coming to power in August, ...

The Bank of Thailand is projected to start cutting interest rates in the second half of 2024, in line with similar moves by the US Federal Reserve, say analysts, as the domestic economy needs more support to drive growth next year.BMI, a unit of New ...

The national household debt has increased by 3.6%, compared to the first quarter, to about 16.07 trillion baht in the second quarter of this year, representing 90.7% of GDP, according to the National Economic and Social Development Board.The board said that credits of all kinds ...

Thailand needs new government measures to stimulate the economy next year, easing the impact from the delay in budget allocation for fiscal 2024, says the Federation of Thai Industries (FTI).Fiscal 2024 started on Oct 1, 2023, but the Srettha Thavisin administration has yet to finalise ...