Thailand, April 23rd, 2025 — Deputy Prime Minister and Finance Minister Pichai Chunhavajira responded to the IMF’s revised forecast cutting Thailand’s 2025 GDP growth from 2.9% to 1.8%, citing global uncertainty tied to Donald Trump’s influence.
He said the downgrade was a preliminary assessment and may not reflect actual performance. The government is closely monitoring the situation and preparing economic stimulus measures to maintain growth, potentially involving at least 500 billion baht, with a focus on boosting domestic consumption and investment.
Pichai also noted that concerns over public debt should not overshadow the benefits of growth, arguing that increased GDP would help reduce the debt-to-GDP ratio.
Deputy Prime Minister and Defense Minister Phumtham Wechayachai confirmed Thailand’s readiness for trade negotiations with the US despite delays. He stressed the need for calm and thorough preparation, acknowledging the US’s shifting stance.
Phumtham dismissed concerns over the absence of some key officials from the talks, noting that any issues regarding security could be promptly addressed upon request.
Phumtham also addressed concerns over balancing relations between China and the US, affirming that Thailand maintains strong ties with both nations. He stated that Thailand’s foreign policy remains neutral and cooperative, with upcoming meetings in Germany and Singapore to engage with defense ministers from the US, China, and other nations. He urged the public to judge negotiations by their outcomes, not optics.
