1.5% GDP growth in first quarter prompts urgent economic cabinet meeting

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Prime Minister Srettha noted that the GDP growth was primarily supported by the service and tourism sectors, without this contribution, Thailand’s economy would be in a technical recession, which is concerning. He highlighted the urgent need to address credit card debt, non-performing loans, and household debt.

Prime Minister Srettha Thavisin has announced that the first economic cabinet meeting will take place this coming Monday.

Relevant agencies will convene to discuss measures to address the economic issues facing Thailand. The meeting comes in response to the country’s GDP growth of only 1.5% in the first quarter, the lowest in ASEAN.



The Prime Minister emphasized that the meeting’s purpose is to collaboratively find solutions and develop policies.

Prime Minister Srettha noted that the GDP growth was primarily supported by the service and tourism sectors. Without this contribution, Thailand’s economy would be in a technical recession, which is concerning. He highlighted the urgent need to address credit card debt, non-performing loans, and household debt.




The economic Cabinet will focus on short-term measures to stimulate the economy, though no surprise projects are expected. Weekly meetings and smaller group discussions will gather input from various sectors, including international trade, agriculture, law, and policy, to develop appropriate measures.

Despite the heavy workload, the Prime Minister expressed his commitment to working hard for the future of the younger generation. He also plans to visit Bangkok and its vicinity from May 25th to 26th to monitor various projects.

The Premier acknowledged the health impacts of the demanding work schedule but affirmed his dedication to the country’s long-term benefits. (NNT)