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Following the official announcement of Thailand's economic growth rate by the National Economic and Social Development Council (NESDB), which found that in 2024
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The Thai economy is rcs data philippines growing by only 2.5%, which raises concerns that income generation will be able to keep up with expenditure and the country's debt situation. And future conditions that are full of challenges both inside and outside the country may make the Thai economy no different from a tiger that is in trouble, not dying but finding it very difficult to hunt prey.
Recently, the Faculty of Economics, Chiang Mai University, in collaboration with the World Bank in Thailand, organized a seminar on “Thai Economy – Ready to Accept, Adapt, and Seek Opportunities in a Volatile World” on the occasion of the 10th Annual Academic Seminar.
Dr. Kiattipong Ariyaprachya, Senior Economist, World Bank Thailand Office, said on the topic of “Thai Economic Growth Amidst Global Economic Uncertainty” that the current economic situation is considered to have the highest uncertainty in 10 years. It is predicted that Thailand’s GDP in 2025 will grow by 2.9%, which is better than in 2024. However, if compared to neighboring countries in ASEAN, if Thailand is to be a high-income country in the region, it will be found that Thailand has the lowest GDP.
Due to the slow economic recovery, Thailand relies on tourism and exports that were previously affected by Covid, and exacerbated by the slowdown in private consumption, which accounts for 60% of GDP, due to household debt problems, which is an old karma of the Thai economy, and the effects of household debt are now becoming more apparent.
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