Gross domestic product expanded by 2.5%, the Office of the National Economic and Social Development Council (NESDC) said. This is lower than the 2.7% forecast as the manufacturing and agriculture sectors contracted.
The figures come after the current government launched measures to boost growth including increasing the minimum wage and a “digital wallet” cash handout.
Shivaan Tandon of Capital Economics said in a note that Thailand has had “one of the weakest recoveries in Asia” from the effects of COVID-19.
The 4th quarter of 2024 saw a 3.2% year-on-year increase in GDP, below the 3.8% forecast, according to a Bloomberg News survey.
Source: Thai PBS World
