Thailand’s caretaker deputy finance minister, Paopoom Rojanasakul, highlighted on Wednesday that while there are signs of recovery, the country’s economic growth has not yet reached its full potential.
The caretaker mentioned at a business forum that Thailand, as Southeast Asia’s second-largest economy, is projected to achieve a growth rate between 2.3% and 2.8% this year.
Despite a faster growth rate of 2.3% in the April-June quarter compared to the previous year, which surpassed analysts’ expectations, challenges impeding Thailand’s economic growth include global geopolitical tensions, volatilities in global financial markets, domestic political issues, and delays in budget spending. Rojanasakul emphasized the need for new investments to uphold the country’s competitiveness.
Paopoom expressed confidence in the resilience and adaptability of the Thai economy, mentioning that even with these challenges, there are noticeable signs of economic recovery. In the previous year, Thailand’s growth rate of 1.9% fell behind its regional counterparts.
