PM sees ‘clear economic revival’, sets 3% growth target for 2025

Thailand's Prime Minister Paetongtarn Shinawatra has announced ambitious economic targets for the coming year, revealing plans to accelerate investments in emerging technological sectors whilst confirming stronger-than-expected recovery figures.

Speaking at the “Matichon Leadership Forum 2025” on Tuesday, PM Paetongtarn confirmed that Thailand's GDP grew by 2.5% in 2024, exceeding the government's initial 2% target. 

The PM attributed this growth to successful domestic consumption stimulus packages and a significant tourism recovery following the implementation of visa-free entry schemes for key markets.

"These figures demonstrate that our economic policies are delivering tangible results," PM told attendees. "We're now seeing clear signs of economic revival across multiple sectors."
 

For 2025, the government has set a 3% GDP growth target, which the PM described as "challenging but achievable" given current economic indicators.

Paetongtarn said the projection is underpinned by encouraging trends in private sector investment and consumer spending patterns.

The administration plans to bolster these developments through accelerated public infrastructure spending, which officials believe will create employment opportunities whilst stimulating monetary circulation throughout the economy.

Efforts to attract overseas investment appear to be bearing fruit, with Board of Investment (BOI) statistics showing a 35% increase in investment promotion activities. This represents approximately 1.14 trillion baht – more than 5% of Thailand's total GDP.

"We're particularly focused on developing high-value industrial capabilities," Paetongtarn explained. "Data centres and semiconductor manufacturing represent crucial growth opportunities that will help elevate Thailand's economic position in the long term."
 

The government's strategy involves creating favourable conditions for these industries through targeted incentives and regulatory frameworks designed to attract global technology firms.

Despite the positive outlook, PM Paetongtarn urged the Bank of Thailand to consider reducing its policy interest rate to further stimulate economic activity. She also called on commercial banks to increase lending to businesses, with particular emphasis on small and medium-sized enterprises (SMEs).

"SMEs constitute approximately 75% of businesses in Thailand," she noted. "Ensuring they have adequate access to capital is essential for maintaining our economic momentum and creating sustainable growth opportunities."

The government is expected to announce further details of specific investment initiatives in these sectors in the coming weeks.