BANGKOK, Thailand – Deputy Finance Minister Paopoom Rojanasakul stated that the Ministry of Finance is targeting 3% economic growth in 2025, surpassing the 2.8% projection by the Office of the National Economic and Social Development Council (NESDC). He emphasized the need for sustained economic momentum and policies that align with this goal.
The government supports NESDC’s recommendation to introduce additional investment stimulus measures, focusing on long-term infrastructure development. Key initiatives include positioning Thailand as a Financial Hub, establishing integrated Entertainment Complexes, and supporting the automotive sector. The ministry is reviewing tax structures and investment strategies to attract new capital.
Regarding economic stimulus, officials are assessing whether part of the 150-billion-baht digital wallet program should be reallocated toward investment incentives, with a final decision expected later this year. The government also plans to implement tax incentives, spending stimulus, and credit measures to maintain liquidity.
The automotive sector, which experienced a downturn in 2024, remains a priority. Tightened lending conditions reduced auto loans, prompting the government to introduce a credit guarantee measure for pickup truck financing. Additionally, the EV 3.5 program is expected to support the industry’s transition and recovery.
On monetary policy, Paopoom expressed hope for favorable outcomes in the upcoming Monetary Policy Committee (MPC) meeting. While monetary decisions remain under the MPC’s authority, he stressed the need for financial policies aligned with inflation targets of 1% to 3%, suggesting adjustments to interest rates if inflation falls below this range. (NNT)
