On January 8, 2019, Deputy Prime Minister Somkid Jatusripitak revealed during a speech at the Next Economic Challenges 2019 event that Thailand's economy in 2018 is expected to grow by 4-4.2%. This growth reflects domestic investments surpassing targets, particularly in the Eastern Economic Corridor (EEC). However, it is essential to monitor the performance results for the remaining months of the year. If expenditures are managed well, achieving the target of 4.2% is possible; otherwise, GDP may decrease slightly. Meanwhile, tourism and agricultural products are beginning to show higher growth.

In 2019, whether Thailand's economy will perform well depends on various risk factors, especially the elections and their peaceful conduct, the continuity of policies, and external risks, particularly the U.S. foreign policy that creates uncertainty for the global economy, especially the trade barriers between the U.S. and China, which could impact Thailand's exports. Recent data indicates a decline in exports.

“We believe that elections will definitely happen, and we expect to see a new government by mid-year. What we need to watch is if the new government can implement policies effectively in the second half of the year. If everything progresses well, the domestic situation will improve. Politicians should avoid conflicts and work together, not focusing solely on personal or party interests but understanding the importance of collaboration among parties,” said Mr. Somkid.

However, national reform is crucial as it will support investment. It must be acknowledged that a significant portion of Thailand's population, around 20-30 million people, consists of farmers who have historically not received development support, have limited processing capabilities, and sell products at low prices. The country needs to find leaders in this area to change operational methods and support development that allows access to modern technology. Other factors, including transportation and tourism, will also play a role in connecting the general public to communities and strengthening agriculture as a national asset.

Additionally, he has instructed the Board of Investment (BOI) to study investment routes linking the EEC to the Andaman Sea and Gulf of Thailand, as well as the northeastern region, to facilitate convenient travel for investment and tourism.

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