BANGKOK, May 19 (TNA) – Thailand’s National Economic and Social Development Council (NESDC) lowered its 2025 GDP growth forecast to 1.8% on Monday, citing significant risks from global trade uncertainties, particularly U.S. tariffs, and high household and business debt.
The revision from 2.8% comes despite a 3.1% Q1 expansion driven by agriculture offsetting slower manufacturing.
NESDC Secretary-General Danucha Pichayanan warned of a broader economic deceleration in the second half, aligning with global trends. While noting some domestic support from government spending and tourism recovery, the NESDC stressed that global trade volatility and existing debt necessitate caution for businesses and consumers.
The agency advised businesses to prepare for trade disruptions and urged public spending prudence.
The government is reportedly formulating support measures, with discussions scheduled for Monday. The NESDC emphasized the revised 1.8% forecast reflects a realistic assessment of the current economic situation. -819 (TNA)