Thai Prime Minister Says GDP Growth Will Exceed 2.1% Forecast Amid Strong Investment and Export Signals

Key summary

Prime Minister Anutin Charnviragul stated that Thailand's GDP growth for this year will definitely not be 2.1%, citing improved investment, exports, employment, and tax revenue figures. He has directed the National Economic and Social Development Council (NESDC) to re-examine calculation methods, assumptions, and data before reporting back on a revised figure. The government plans to consult with the Thai Chamber of Commerce, the Federation of Thai Industries, and relevant business sectors before announcing the updated number. Prime Minister Anutin emphasized that Thailand should position itself as a strategic partner offering skilled personnel, logistics, and regional market access rather than competing solely on low labor or electricity costs. He highlighted recent progress in trade agreements with markets including the US, Europe, Central Asia, and the UAE, as well as resolving issues with Australia and New Zealand. The report also noted government efforts to promote renewable energy self-generation for households and industry stability despite Middle East tensions affecting oil prices.