Thai GDP growth projection upgraded to 4.4% by the IMF

The International Monetary Fund (IMF) projects Thailand’s GDP to grow by 4.4% in 2024, up from 2.5% in 2023.

• The IMF projects Thailand’s GDP to grow by 4.4% in 2024, showing a significant increase from the previous year’s 2.5% growth.
• Thailand’s economic recovery is expected to gain momentum in 2024, driven by improvements in external demand and robust growth in private consumption supported by government fiscal stimulus.
• The IMF encourages Thailand to continue gradual policy normalization, implement structural reforms, and maintain a neutral fiscal stance with targeted support for vulnerable groups to address poverty and inequality.

The economic recovery is expected to accelerate due to improvements in external demand and robust growth in private consumption. However, the IMF notes that Thailand’s economic recovery is slower than regional peers and faces uncertainty, with…