Thailand Finance Minister Sets Sights on Surpassing 3% Economic Growth Forecast for 2025
Thailand: Thailand's economic growth is expected to reach 3% in 2025, driven by increases in spending, exports, investment, and tourism, with the government aiming to exceed this target. The finance ministry forecasts a growth of 2.7% for 2024, an improvement from 1.9% in 2023. Finance Minister Pichai Chunhavajira noted efforts to boost economic activity, including 55 billion baht (USD 1.6 billion) in soft loans for the housing sector and recent support from a key interest rate cut by the Bank of Thailand. The ministry expects tourist arrivals to rise to 39 million in 2025, near pre-pandemic levels, and projects exports to grow 3.1% next year. Concerns persist over the strength of the baht, which could affect exports and tourism competitiveness, with exchange rates forecasted to average 32.7–33.1 per dollar in 2025.
Source: Reuters