Bank Assoc: 2025 GDP Outperforms Expectations, Govt-Private Synergy Drives Policy

Matichon•Economy•1d ago

Reader Briefing

Thai economy shows robust performance in late 2025, exceeding forecasts and prompting optimism for continued growth in 2026, driven by effective government-private collaboration.

•The Thai economy expanded better than expected in late 2025, with GDP for the year reaching 2.4%.
•The National Economic and Social Development Council reported Q4/2025 GDP growth of 2.5%, surpassing the 1.3% forecast.
•The Bank of Thailand has revised its growth forecast for 2026 to between 1.5-2.5%.
•This positive performance is attributed to the government's efficient policy implementation, in close coordination with the private sector.

Overview

•GDP in Q4/2025 grew by 2.5%, exceeding the forecast of 1.3%.
•The full-year GDP for 2025 grew by 2.4%, surpassing the initial forecast of 2.0-2.2%.
•The Bank of Thailand revised its 2026 GDP growth projection to 1.5-2.5%.
•This growth reflects the government's efficient policy implementation in collaboration with the private sector.
•Measures such as 'Quick Big Win' have been instrumental in stabilizing the economy in the short term.
•The government is focusing on building 'Trust and Confidence' in the Thai economy, not just maintaining growth.
•The business sector is prioritizing government formation clarity, rapid review of the 2027 budget, and efficient state spending to maintain economic momentum.
•The Bank of Thailand, in collaboration with industrial and commerce councils, is advancing the PromptBiz project to reduce supply chain trade costs and enhance liquidity.

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Key Quotes

Payong Srivanich

"The economic momentum at the end of 2025 is believed to bring continued positive surprises into 2026 and is a crucial starting point for systematically resolving structural issues."

โมเมนตัมเศรษฐกิจปลายปี 2025 เชื่อว่าจะสามารถทำให้เกิด Positive Surprise ต่อเนื่องมาในปี 2026 และถือเป็นจุดตั้งต้นสำคัญในการเร่งแก้ปัญหาเชิงโครงสร้างอย่างเป็นระบบ

Payong Srivanich

"The key challenge from now on is not just maintaining growth rates, but continuously building trust and confidence in the Thai economy."

โจทย์สำคัญจากนี้ไม่ใช่เพียงการรักษาอัตราการเติบโต แต่คือการสร้าง Trust and Confidence ต่อเศรษฐกิจไทยอย่างต่อเนื่อง

Key Entities

Organization

Thai Banking Association(ส.ธนาคาร)

A representative body of Thai banks, providing analysis on the Thai economy and advocating for related policies.

The National Economic and Social Development Council (NESDC)(สำนักงานสภาพัฒนาการเศรษฐกิจและสังคมแห่งชาติ)ℹ️

The government agency responsible for reporting key economic indicators in Thailand, including GDP figures.

The Federation of Thai Industries(สภาอุตสาหกรรมแห่งประเทศไทย)ℹ️

A major industrial organization in Thailand collaborating on economic initiatives.

The Thai Chamber of Commerce(สภาหอการค้าแห่งประเทศไทย)ℹ️

A prominent business organization in Thailand involved in economic policy and private sector collaboration.

Person

Payong Srivanich(นายผยง ศรีวณิช)ℹ️

President of the Thai Banking Association, commenting on the Thai economic outlook and government performance.

Dr. Ekniti Nitithanprapas(ดร.เอกนิติ นิติทัณฑ์ประภาศ)

An experienced professional mentioned as part of the government's management team, contributing to economic progress.

Khun Supajee Suthamphanta(คุณศุภจี สุธรรมพันธุ์)

An experienced professional mentioned as part of the government's management team, contributing to economic progress.

Khun Sihasak Phuangketkaew(คุณสีหศักดิ์ พวงเกตุแก้ว)

An experienced professional mentioned as part of the government's management team, contributing to economic progress.

Policy

Reinvent Thailand

A policy initiative focused on integrated design and comprehensive implementation from upstream to downstream.

Quick Big Win

A short-term economic stabilization measure that also lays the foundation for long-term development.

Connect the Dots

An initiative to enhance public sector data linkage for systematic risk management, including tracking financial flows and virtual assets.

PromptBiz

A collaborative project between the banking, industry, and commerce sectors aimed at reducing trade costs and improving liquidity via fair terms and less collateral.