Thailand's economy continues to show strong growth, proving its ability to overcome economic challenges. In the first quarter of this year, there was an increase in GDP by 2.7%, which is almost double the figure of the previous quarter, which amounted to 1.4%.
Danucha Pichayanan, secretary general of the State Agency for National Economic and Social Development (NESDC), said that if economic conditions are stable and there is no recession, GDP growth of 3.7% is possible this year. This forecast is in line with previous forecasts and allows us to be optimistic about the future of the Thai economy.
The first quarter of this year showed the expansion of several sectors of the economy. Private consumption increased by 5.4% quarter-on-quarter and total investment increased by 3.1% thanks to a 4.7% increase in public sector investment. However, the export of goods decreased by 6.4%.
NESDC confirmed its economic forecasts for the current year in the range of 2.7% to 3.7%, which is in line with previous forecasts. However, global economic growth was adjusted to 2.7% from the previous 2.6%.
The Secretary General of NESDC stressed the importance of continuing spending in line with government objectives, as well as accelerating investment in state-owned enterprises. In addition, it is necessary to maintain a favorable economic climate after the general elections in order to inspire confidence in both domestic and foreign investors.
