The Monetary Policy Committee (MPC) has unanimously decided to maintain the policy rate at 2.50 percent, stating that he Thai economy is showing signs of recovery, despite a slowdown in merchandise exports and related production.
It is expected that growth will be more balanced in 2024 and 2025, supported by domestic demand, the tourism sector, and a recovery in merchandise exports. Inflation is also projected to increase next year in line with the economic recovery and El Niño-related supply pressures.
The MPC forecasts a growth rate of 2.4 and 3.2 percent in 2023 and 2024, respectively. The government’s digital wallet scheme is projected to contribute to a growth rate of 3.8 percent in 2024. The overall trajectory of the economy is one of continued recovery, marked by robust expansion in private consumption and improvements in employment and labor income. However, structural…
