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Thailand’S Poverty On The Rise Amid Slowing Economic Growth

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Thailand, once a roaring Asian tiger economy, finds itself at a critical crossroads as it grapples with persistently sluggish growth that threatens to relegate it to the slow lane of Southeast Asian development. With projected growth of just 2.8% for 2025, the kingdom faces mounting pressure to address structural challenges that have dampened its economic More Home Live Reels Shows Explore Like Comment Share 4 · 104 views Thailand Business News dg77m7c · Follow Real News won’t make the Covid-19 disappear, but it will help you to stay safe Nor does that report draw on scholarship on Thailand’s political economy. Despite the country’s having reported the first confirmed case of Covid-19 outside China more than six weeks before the release of Taking the Pulse of Poverty and Inequality in Thailand, the report fails to address the implications of the pandemic for Thailand.

Multiple issues slow poverty reduction

Thailand’s economy is bleeding, with over 100 factories closing each month since 2021. Experts blame cheap Chinese imports, rising debt, and collapsing consumption. Without urgent reforms, the nation faces a full-scale manufacturing and growth meltdown. Thailand’s economic problems lie on the supply side. Slow growth in output is the legacy of sustained low growth of productive capacity over the decades since the Asian Financial Crisis, especially since around 2006.

Child Multidimensional Poverty in Thailand | OPHI

With appropriate investments in infrastructure, human capital, and institutional capacity; and with adjustments to the intergovernmental framework, a number of these cities have the potential to further enhance Thailand’s productivity, spur its economic growth, and bolster its global competitiveness.

While lagging ASEAN peers, Thai-land’s real GDP growth is projected to accelerate to 2.4 percent in 2024, driven by the recovery of private consumption and tourism. Inflation remains subdued amid still sluggish domestic demand. Poverty is projected to decline to 8.2 percent in 2024, supported by accelerat-ing growth, easing inflation. While con-sumption stimulus may boost Thailand’s economy grew by 0.4% qoq in Q4 of 2024, slowing sharply from a 1.2% rise in Q3 and missing market forecasts of 0.7%. It was the fourth straight period of quarterly expansion but the slowest pace in the sequence, as private consumption slowed for the third quarter in a row (0.5% vs 0.6% in Q3) amid persistent debt burden.

More than 260 million people in the Asia-Pacific region could be pushed into poverty in the next decade unless governments step up with robust social protection schemes, according to a new United Nations report released today. The findings in Protecting our Future Today: Social Protection in Asia and the Pacific report reveal that poverty, both in monetary The Thailand Economic Monitor (TEM) reports on key developments in Thailand’s economy over the past six months, situates these changes in the context of global trends and Thailand’s longer-term economic trajectory, and updates Thailand’s economic and social welfare outlook. Moody’s Ratings has affirmed Thailand’s Baa1 issuer and local currency senior unsecured ratings but revised the outlook from stable to negative, citing rising risks to the country’s economic and fiscal strength. The agency also affirmed Thailand’s P-2 foreign currency commercial paper rating.

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These external challenges and internal weaknesses reflect Thailand’s slowing economic growth in the short-term and long-term structural issues. Additionally, Thailand’s economic development direction in recent years has provided few opportunities for upward mobility within the THAILAND’S central bank cut its benchmark interest rate by a quarter percentage point on Wednesday (Feb 26), a move it said was a response to a weaker growth outlook and increased risks posed by global trade policy uncertainty. Read more at The Business Times. Southeast Asian economies recorded slower growth in the first quarter 2025 as trade tensions and policy uncertainties impacted growth drivers. Apart from the Philippines, which attained a marginal 0.1 percent uptick in economic growth in the first quarter, all other Southeast Asian economies saw their growth moderate. Vietnam remained the region’s best-performing

However, since the early 2000s, growth rates have slowed down. This process of slower economic growth is sometimes known as ‘secular stagnation.’ The effects of slower economic growth could include: Slower increase in living standards – inequality maybecome more noticeable to those on lower incomes. This study aimed to analyze the poverty among aging in Thai households, including absolute poverty and relative poverty, and to investigate the relationship between demographic factors and socioeconomic factors causing poor households, defined as earning below the Thai official poverty line.

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Some economists are concerned about deflation, a phenomenon where the general price level of goods and services declines. Deflation can impact the economy in various ways, such as causing consumers to delay spending, leading businesses to postpone investments, and ultimately resulting in economic stagnation.

Southeast Asia’s emerging economies are some of the most successful in the world. Economic recovery from the Covid-19 pandemic and Russia’s invasion of Ukraine is underway, and the region has returned to relatively strong growth. Nonetheless, the impact from these shocks and ongoing developments in the world economy has been substantial. The economic recovery accelerated in 2022H1 supported by a stronger-than-expected rebound in private consump-tion and tourism, which ofset weak goods export. However, among the ma-jor ASEAN economies, Thailand’s re-covery has proven to be the slowest and inflation the highest. Surging inflation is expected to dampen private spending once pent-up demand fades. An unfa

Thailand finds itself at a crossroads as it grapples with significant economic challenges, raising concerns about its lagging performances compared to neighbouring countries. The latest World Economic Outlook reports a slowdown in global growth as downside risks intensify. While policy shifts unfold and uncertainties

Thailand’s economy is projected to recover to its pre-pandemic level in 2022, but the pace of growth will be slower-than-expected in 2023 owing to global headwinds. The economy is projected to expand by 3.4 percent in 2022 and 3.6 percent in 2023.

Vietnam launches $42bn infrastructure plan to drive 8% GDP growth and become a high-income nation by 2045, sparking concern Thailand is falling behind.

South Asia’s Growth Prospects Dimming Amid Global Uncertainty

The Thai economy is projected to maintain its growth momentum, with a GDP expansion of 2.8% in 2025 and 2.9% in 2026. Tourism will remain the primary driver of this economic growth, with tourist arrivals expected to rise to

Amid recent global trade policy shifts, weakening exports, slowing consumption and moderating tourism recovery, Thailand’s GDP growth is expected to slow to 1.8 percent in 2025 and 1.7 percent in 2026. However, GDP growth could rise to 2.2 percent in 2025 and 1.8 percent in 2026 with improved investment sentiment. World Bank cuts Thailand’s GDP growth forecast for 68 to 1.6%, lowest in the region, from previously expected 2.9% amid pressure from changes in international trade policy and high levels of uncertainty Thailand’s central bank cut its benchmark interest rate by a quarter percentage point on Wednesday, a move it said was a response to a weaker growth outlook and increased risks posed by global

Bangkok: Thailand needs to invest in education and create jobs in higher-income sectors, the World Bank said in a new report that showed a

In Q2, Thailand’s economy showed slow growth, with income concentrated in tourism-related services. The agricultural sector is gradually recovering, but manufacturing is contracting, raising concerns. IMF cuts Thailand’s 2025 growth forecast to 1.8%, citing four key traps; recommends trade diversification and structural reforms The International Monetary Fund (IMF) has highlighted four significant challenges—referred to as „traps“—that are

Corecript · March 13, 2020 · Thailand’s Poverty on the Rise Amid Slowing Economic Growth Although private consumption may slow down due to high household debt, part of this will be offset by economic stimulus measures and debt relief programs, the

Thailand has experienced a decline in income inequality coupled with unimpressive economic growth since the end of the 1997/98 Asian financial crisis. This paper uses the structuralist approach to understand how these concurrent economic phenomena have become deeply intertwined. We argue that this intertwining results from Thailand’s economic structure,

Thailand Faces Rising Costs and Economic Uncertainty

Since China began to open up and reform its economy in 1978, GDP growth has averaged almost 10 percent a year, and more than 800 million people have been lifted out of poverty. There have also been significant improvements in access to health, education, and other services over the same period. This report provides background on China’s economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China’s economic rise for

Overall, while Thailand’s experience with the cost of living crisis shares similarities with global trends, the country exhibits a distinct pessimism about the economy and inflation recovery. The anticipated rise in costs across consumer categories emphasizes ongoing challenges for Thai consumers. Within this context, we wanted to see what impact, if any, these trends are having on consumers’ preferences and behaviours, particularly with Thailand and Indonesia — two of the largest markets in the region — starting to show signs of slowing economic growth. Our recent survey of 1,000 consumers in both Thailand and Indonesia found that consumers are indeed worried about

Income inequality reduces the rate of poverty reduction in two ways: first, increased inequality is associated with increased poverty after controlling for economic growth, and second, high levels of initial inequality reduce future growth rates, thereby impeding the poverty reduction that would have taken place in the presence of rapid growth.