Thai Q1 GDP growth seen at 3.4% y/y on stimulus, official says

BANGKOK : Thailand's economy is expected to grow 3.4 per cent in the first quarter of 2025 from a year earlier, which would be the fastest pace in 10 quarters, helped by government stimulus measures, a deputy finance minister said on Wednesday.

Southeast Asia's second-largest economy is on an upward trend, Paopoom Rojanasakul said on a local television programme.

The government has prepared various measures to boost the economy throughout the year, including the next phase of a signature stimulus scheme and tax and loan measures, to maintain economic momentum at a high level, Paopoom said.

Economic growth in the second quarter could drop slightly from the first quarter's pace, but will still be high, and there will be several stimulus measures in the third quarter, he said. The economy grew 3.2 per cent in the final quarter of 2024 from a year earlier and expanded 2.5 per cent over the whole year, less than expected and lagging peers.

Finance Minister Pichai Chunhavajira has said the economy is expected to grow between 3 per cent and 3.5 per cent this year, driven by stimulus measures and strong foreign investment.