Thailand's Finance Ministry raised its 2026 economic growth forecast to 2.5% from the previous 1.6%, supported by stronger foreign trade, investment, and consumption.
Vinit Visessuvanapoom, head of the Finance Ministry's Fiscal Policy Office, said on Friday that the stronger growth forecast was driven by the impact of government stimulus measures, with private investment forecast to expand 9% this year, while private consumption is expected to rise 2.7%.
Meanwhile, exports are expected to grow 12.5%, up from a previous forecast of 6.2%, supported by stronger demand from major trading partners.
Commerce Ministry data showed exports surged 20.8% in June from a year earlier.
Nantapong Chiralerspong, head of the ministry's Trade Policy and Strategy Office, said the impact of a new 12.5% U.S. tariff on Thai exports should be limited.
Meanwhile, the Commerce Ministry maintains its forecast for export growth of 8% this year, supported by easing global tensions and strong tech demand.