Innova X Highlights Election's Critical Role in 2026 Economic Outlook

On January 30, 2026, Piyasak Manasant, Chief Economic Research Analyst at Innova X Securities (part of the SCBX group), revealed that Thailand's economy is projected to grow approximately 1.4% in 2026, a decline from the previous year. This projection stems from ongoing challenges including uneven economic recovery, fragile household purchasing power, and slow private sector investment. However, the economy is expected to improve in the second half of the year, driven by government stimulus measures and large-scale infrastructure projects. The upcoming election will be a critical factor in determining Thailand's economic direction. "If government formation proceeds smoothly and the new cabinet can approve the 2027 budget within the second quarter before parliamentary submission, budget implementation should not be significantly delayed," Piyasak noted. He added that if political parties' economic stimulation policies can be effectively implemented, Thailand's economic outlook could improve by 0.12-0.50% from the baseline scenario. The research team also provided investment strategies, recommending selective investments with a focus on quality dividend stocks, growth stocks with recovering profits, and undervalued sectors in tourism, food, and retail. For international markets, they suggest a selective approach, highlighting technology platforms, healthcare stocks in the US, premium brands in Europe, and technology stocks in China that benefit from state policies.