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경제 개요

Economic Overview

Economic Overview

The Monetary Policy Committee (MPC) of the Bank of Thailand has forecasted a steady expansion for the Thai economy, projecting growth rates of 2.6% and 3.0% for the years 2024 and 2025, respectively. This optimistic outlook stems from the robust performance of domestic demand in the first quarter, along with sustained growth within the flourishing tourism sector. Moreover, government disbursements will accelerate in the second quarter. Despite these positive indicators, headline inflation is anticipated to remain stable, holding at 0.6% and 1.3% for the years 2024 and 2025, respectively, while core inflation is expected to register at 0.5% and 0.9% for the corresponding periods.

Projection for Growth and Inflation

Percentage Per Year 2023* 2024 2025
GDP Growth 1.9 2.6 3.0
Headline Inflation 1.2 0.6 1.3
Core Inflation 1.3 0.5 0.9
Note : * Outturns

More information from the June 2024 Monetary Policy Report can be found at https://www.bot.or.th/th/our-roles/monetary-policy/mpc-meeting.html

Source : Bank of Thailand


Monthly Economic Report

The Thai economy is expected to grow by 2.4 percent in 2024, driven by continuous expansion in the tourism sector and supportive fiscal policies. Anticipated international tourist arrivals of 35.7 million, marking a 26.7 percent increase, are poised to benefit tourism and related industries. This optimistic forecast is likely to boost employment, household income, and business confidence. Projections indicate a 3.7 percent rise in private investment and a 3.5 percent increase in private consumption.

Thailand’s Economic Projections for 2023 & 2024

Growth Rate (% YOY) 2022 2023 2024f
GDP 2.6 1.9 2.4
Real Private Consumption 6.3 7.1 3.5
Real Private Investment 5.1 3.2 3.7

Additional detail from the latest month’s Fiscal Policy Report can be found by visiting : Fiscal Policy Office

Source: Fiscal Policy Office

Last updated: June 12th, 2024

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