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Thailand Economic Monitor, February 2025: Unleashing Sources of Growth: Innovation, SMEs and Startups

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dc.contributor.authorWorld Bank Group
dc.date.accessioned2025-02-25T15:35:07Z
dc.date.available2025-02-25T15:35:07Z
dc.date.issued2025-02-25
dc.description.abstractThe economy is estimated to have grown by 2.6 percent in 2024, surpassing expectations due to an unexpected surge in activity but the recovery continued to lag behind peers. The latest gross domestic product (GDP) release showed that growth picked up at 3.0 percent year-on-year in 2024 Q3. In Q3 2024, the current account surplus rose to 1.5 percent of GDP as the trade balance benefited from robust global demand. Inflation edged up due to the removal of diesel subsidies but remained among the lowest in ASEAN due to remaining energy subsidies and weak domestic demand. Thailand’s financial system remained stable, but credit conditions have tightened amid government efforts to tackle high household debt. Despite the recent rollout of the cash transfer scheme, the fiscal stance turned less expansionary as capital spending slipped due to the delayed budget. The economy is set to gain momentum in 2025, driven by stronger domestic demand and fiscal stimulus, while external factors will slow slightly. With the planned fiscal stimulus and accelerated budget execution, the expansionary fiscal stance will support the economic recovery.en
dc.identifierhttp://documents.worldbank.org/curated/en/099021125051038392/P5080791f9e0bc03b1ab8019753dc6998d3
dc.identifier.doi10.1596/42858
dc.identifier.urihttps://hdl.handle.net/10986/42858
dc.languageEnglish
dc.language.isoen_US
dc.publisherWashington, DC: World Bank
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectINNOVATION
dc.subjectSMALL AND MEDIUM ENTERPRISES (SMEs)
dc.subjectSTARTUPS
dc.subjectTECHNOLOGY ADOPTION
dc.subjectPRODUCTIVITY GROWTH
dc.titleThailand Economic Monitor, February 2025en
dc.title.subtitleUnleashing Sources of Growth: Innovation, SMEs and Startupsen
dc.typeReport
dspace.entity.typePublication
okr.date.disclosure2025-02-25
okr.date.lastmodified2025-02-12T00:00:00Zen
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/099021125051038392/P5080791f9e0bc03b1ab8019753dc6998d3
okr.guid099021125051038392
okr.identifier.docmidP508079-f9e0bcc4-73b8-4d3b-ab80-9753dc6998d3
okr.identifier.externaldocumentum34455119
okr.identifier.internaldocumentum34455119
okr.identifier.report197290
okr.import.id6691
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/099021125051038392/pdf/P5080791f9e0bc03b1ab8019753dc6998d3.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryThailand
okr.statistics.combined31864
okr.statistics.dr099021125051038392
okr.statistics.dr099021325041525730
okr.statistics.drstats31661
okr.topicPrivate Sector Development::Small and Medium Size Enterprises
okr.topicScience and Technology Development::Innovation
okr.topicMacroeconomics and Economic Growth::Climate Change Economics
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.unitEFI-EAP-MTI-MacroFiscal-1 (EEAM1)
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