The Bank of Thailand unexpectedly hiked its interest rate to a decade-high of 2.5% in an effort to combat inflation and prepare for global economic fluctuations. This move has cast uncertainty over the nation’s economic outlook.
The government has set an ambitious GDP target of 4.4% for the following year, a significant increase from this year’s projection of 2.5-3.0%.
Despite the reliance on the tourism industry to revive the economy amidst sluggish exports, experts argue that this is not a sustainable solution without appropriate strategies to bolster the long-term competitiveness of other sectors.
The Cabinet has approved a policy to support the creative economy by establishing a national soft power strategy committee, led by Prime Minister Srettha Thavisin. The committee comprises representatives from ten ministries and prominent business…
