Friday, December 12, 2025
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SCB EIC cuts Thai 2024 GDP growth forecast from 3% to 2.7%

The SCB EIC has revised Thailand’s economic growth forecast for 2024 down to 2.7% from 3% due to challenges in the manufacturing sector, including slow recovery, diminished competitiveness in exports, and structural issues.

Key Takeaways

  • SCB EIC revised down the Thai economic growth forecast for 2024 to 2.7% due to challenges in the manufacturing sector and delays in the 2024 Budget Act.
  • The manufacturing sector faces structural challenges such as diminished competitiveness, slow recovery of overseas demand, and high accumulated inventory, hindering Thailand’s economic growth.
  • SCB EIC foresees 2 policy rate cuts by the MPC in April and June to 2% to sustain a neutral monetary policy stance and alleviate the high debt burden for businesses and households.

The potential GDP growth is also expected to decline to 2.7% in the long term due to these challenges. The MPC is expected to cut…

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