Picture courtesy of Varuth Hirunyatheb
Thailand is projected to experience a soft economic landing next year, according to the Siam Commercial Bank’s Economic Intelligence Centre (SCB EIC).
..
Thailand is projected to experience a soft economic landing next year, according to the Siam Commercial Bank’s Economic Intelligence Centre (SCB EIC). The research centre has maintained its 2024 economic growth forecast for Thailand at 2.5% but has downgraded its 2025 outlook to 2.6%, down from previous forecasts of 2.9 to 3%.
EIC chief economist Somprawin Manprasert explained that the downward revision reflects a waning momentum in Thailand’s economic expansion, influenced by both structural and cyclical factors over the medium to long term.
The government’s stimulus measures, including cash handouts to vulnerable groups this year, are expected to lift GDP by 0.5 to 0.7 percentage points, according to the centre.
Continuing these handout measures into next year could potentially support the country’s economic growth by up to three…