Accra:Six proposals have been put forward amid concerns that the country's GDP growth will only reach 2.1%, according to forecasts. These proposals aim to address economic challenges and stimulate growth.
According to Thai News Agency, former Senator Suradej Yasawasdi and a former deputy leader of the Palang Pracharath Party highlighted the International Monetary Fund's (IMF) projection that Thailand's GDP growth in 2026 could be as low as 2.1%, placing it third from the bottom in ASEAN rankings. Suradej expressed concern over this low growth rate and warned against further borrowing, given the country's public debt nearing its limit. He emphasized the need for Thailand to target a GDP growth of 4-5% to improve economic stability.
The proposals to tackle these economic issues include upgrading the quality of Thai labor, increasing taxes on foreign workers, improving product quality, and enhancing technological skills among the population. Additionally, support for small and medium-sized enterprises (SMEs) and efforts to combat corruption and illicit capital are also recommended.
Suradej also referred to a suggestion by IMF Managing Director Kristalina Georgieva, advocating for accelerated economic growth and increased intra-regional trade within ASEAN. He mentioned that Thailand could benefit from upgrading its products to premium levels to gain an advantage in regional trade.