GDP Exceeds Expectations: Industry Council Hopes New Economic Cabinet Will Boost Growth to 2%

Kriengkrai Thiannnukul, President of the Federation of Thai Industries, revealed that Thailand's economic growth for 2025 is projected at 2.4%, better than the initial 1.7% forecast. This improvement is attributed to improvements in exports, consumption, and investment in the final quarter of the previous year, with Q4 2025 GDP expansion reaching 2.5%. The growth exceeded predictions by the Joint Private Sector Committee, reflecting the capabilities of the economic team under Bhumjaithai Party leadership. Key stimulus measures, such as the 'Half-Half Plus' project worth over 80,000 million baht, helped boost domestic purchasing power and prevent economic stagnation. For 2026, the National Economic and Social Development Council estimates continued growth between 1.5-2.5%. Kriengkrai acknowledged 2026 as a challenging year for the Thai economy, with international organizations like IMF and World Bank projecting growth around 1.6%. He emphasized the need for a new economic ministerial team with professional, knowledgeable experts and stressed political stability as crucial for restoring investor confidence. The long-term forecast suggests potential GDP growth of 3-4% in 2027-2028, potentially reaching 5% by the end of the current government's term.