Thailand-
In a recent address following a high-level economic strategy session, Thailand’s Prime Minister Paetongtarn Shinawatra expressed optimism about the nation’s financial outlook, forecasting a minimum economic expansion of 3% for the year 2025. . Private consumption, a rebounding export sector, and a flourishing tourism industry were highlighted as the primary engines propelling this upward trend.
The Ministry of Finance has officially pegged growth at 3%, aligning with the Prime Minister’s baseline prediction. However, Paetongtarn suggested that this figure might be conservative, pointing to the untapped potential of Thailand’s economic framework and the synergistic efforts between public institutions and private enterprises. “With the right momentum and collaboration, we could see growth surpass our initial projections,” she remarked, setting an ambitious tone for the year ahead.
A cornerstone of the discussion was the unveiling of the third phase of the government’s 10,000 Baht stimulus initiative, a program designed to inject vitality into the economy while paving the way for a tech-driven future. This phase zeroes in on fostering a digital ecosystem, targeting young Thais aged 16 to 20.
Approximately 2 to 3 million individuals in this demographic—registered via a state-developed mobile application—will receive funds to spend at designated retailers through QR code transactions.
Finance Minister Pichai Chunhavajira, who has championed the scheme, confirmed that disbursements are slated to roll out in the second quarter of 2025.
Tourism, a lifeline for Thailand’s economy, emerged as a focal point in the talks. The Prime Minister stressed that ongoing stimulus efforts in this sector must proceed without interruption, with fresh strategies targeting high-end travelers to elevate per-visitor spending. “We’re not just aiming for more visitors, but for greater value from each visit,” she explained, hinting at luxury-focused campaigns that could redefine Thailand’s appeal on the global stage.
Agriculture, another vital pillar, was equally prominent in the agenda. Paetongtarn outlined a comprehensive vision to revolutionize the sector, from advancing agricultural research to streamlining export processes. The goal is twofold: secure equitable or improved prices for farmers’ goods and amplify national revenue. “By uplifting our farmers, we’re not only improving their livelihoods but fortifying the economic backbone of our country,” she said, framing the initiative as both a moral and fiscal imperative.
