Bangkok: "Phao Bhumi" anticipates that Thailand's GDP growth in 2025 will exceed 2.2%, largely fueled by robust economic performance in the first half of the year. Economic stimulus measures are set to be implemented in the fourth quarter to further boost the economy. Despite questions about an audio clip involving Prime Minister Paethongtarn, Phao Bhumi remains confident that the government will serve its full term.
According to Thai News Agency, Mr. Paopum Rojanasakul, the Deputy Minister of Finance, made these remarks while inaugurating the Thailand Focus 2025: Beyond the Challenges event, organized by the Stock Exchange of Thailand. During the event, he delivered a lecture on "Policy and Markets: Building Confidence in Thailand's Investment Climate." The GDP growth forecast has been revised upwards, attributed to the positive impact of US import tariffs on Thai goods. The government has already spent 130 billion baht out of the 157 billion baht earmarked for economic stimulus, with additional measures planned for the fourth quarter of 2025.
The current public debt ratio stands at 64%, leaving sufficient fiscal space for further economic expansion. The Monetary Policy Committee is responsible for managing this fiscal space. Positive impacts on the Thai economy are also bolstered by a resurgence in tourism, particularly in premium markets. This growth is enhancing employment in the service sector nationwide. Investment promotion applications have reached record levels, and the government is pursuing reforms in capital and financial markets.
Mr. Paopum highlighted that earlier projections had underestimated GDP growth due to US import tariffs. However, the announcement of 19% tariffs proved advantageous for Thailand, enhancing its export competitiveness. Despite these gains, GDP growth in the latter half of the year is expected to dip below the first half's 3% growth rate, as export momentum may slow in the second half of 2025.
When asked about the audio clip case involving Prime Minister Paethongtarn, Mr. Pao Bhumi refrained from commenting but expressed confidence in the government's stability, ensuring ministries will continue to operate in line with policy.