PATTAYA, Thailand – Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas said the caretaker government remains committed to stabilizing Thailand’s economy during the period following the dissolution of parliament, expressing hope that economic growth in 2025 will reach at least 2 percent.
Speaking on December 15, Ekniti said the government continues to push ahead with its “Quick Big Win” policy framework, built on five key pillars and one grassroots foundation, which he said has already been implemented by 99 percent. The Finance Ministry expects GDP growth of around 1 percent in the fourth quarter, with full-year growth in 2025 projected at no less than 2 percent, providing momentum into 2026.
Despite the political vacuum, Ekniti stressed that the government must continue addressing household debt and injecting liquidity into small and medium-sized enterprises (SMEs) to ensure business continuity. He acknowledged disappointment that some economic stimulus measures — including the TISA personal savings scheme and the “Khon La Khrueng Plus” Phase 2 co-payment program — have been delayed.
Ekniti said the Khon La Khrueng Plus Phase 2 program is still under consideration and will require discussions between Deputy Prime Minister Bowornsak Uwanno and the Election Commission to determine whether it can proceed during the caretaker period.
For the fourth quarter, the government is relying heavily on domestic consumption, particularly through the Khon La Khrueng Plus scheme, which has already injected 74.9 billion baht into the economy. He said the program has boosted activity among small businesses, markets, and local shops in Bangkok and provincial areas.
Beyond short-term stimulus, the government is also aiming for long-term impact by reskilling small traders in financial literacy and online sales, resulting in reported online sales growth of five to six times for participating vendors.
Ekniti added that the caretaker government will continue working with the Bank of Thailand and the Thai Bankers’ Association to tackle household debt, particularly for debts under 100,000 baht. Measures to support SMEs include 320 billion baht in funding through state and commercial banks, 60 billion baht in tax refunds expected to circulate in the system by December, and additional low-interest loans and credit guarantees worth 267 billion baht via the Thai Credit Guarantee Corporation.
The government is also pushing forward long-term investment through a 470-billion-baht “Fast Pass” program, designed to sustain investment through 2026. Sixteen new projects worth more than 100 billion baht were approved prior to parliament’s dissolution, Ekniti said, to help cushion the Thai economy during this transitional period. (TNA)
