BANGKOK (XINHUA) – Thailand’s economy is projected to expand three per cent in 2025, unchanged from an earlier estimate, supported by private consumption, exports and tourism, the Ministry of Finance said on Thursday.
Private consumption was seen expanding 3.3 per cent this year, up from 2.9 per cent in the previous projection, partly due to the government’s stimulus measures and continued growth in farm incomes, said Director General of the ministry’s Fiscal Policy Office Pornchai Thiraveja. Exports, a key driver of the Southeast Asian country’s economic growth, are expected to grow 4.4 per cent in 2025, quickening from the 3.1 per cent rise forecasted earlier and aligning with improved global demand and economic recovery in key trading partners, Pornchai told a news conference.
Last year, the kingdom’s economy is estimated to have grown 2.5 per cent, a slight decline from the previous projection of 2.7 per cent growth, Pornchai said.
The reduced growth forecast was attributed to a sharper-than-anticipated drop in private investment, particularly within the automotive sector, he said. The declining sales of internal combustion engine vehicles, along with the difficulty in accessing credit, led business operators to delay their investment decisions, the official added.
