“The economic report released by the National Economic and Social Development Council (NESDC) today indicated that Thailand’s economy is at a critical stage,” said Srettha’s post on X on Monday evening.
“The council’s secretary-general also agreed with reducing the policy rate. I would plead with the MPC to schedule an urgent session to consider the interest rate before the next scheduled meeting,” said the premier.
Srettha’s post came after the NESDC announced that the gross domestic product (GDP) in the fourth quarter of 2023 had expanded by a mere 1.7% year on year, falling short of the 2.5% expansion predicted by a Reuters poll.
GDP for the whole year was 1.9% year on year, down from 2.5% in 2022. The council also adjusted downwards its estimation for 2024’s GDP from 3.2% to 2.7%
Earlier on Monday, Srettha told reporters that the 1.9% GDP expansion in 2023…
