Thailand’s election is awash with giveaways, but real economic reform remains the hard sell
No political party is expected to win a majority, which means a coalition government is inevitable
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[BANGKOK] Judging by the flurry of lottery-style gimmicks, cash handouts, subsidised transport and income supplements rolled out by Thai political parties ahead of this Sunday’s (Feb 8) general election, one might assume the economy is humming.
It isn’t.
Thailand’s gross domestic product is expected to grow just 1.5 to 1.7 per cent this year, the weakest pace in a decade outside the pandemic years and the slowest in South-east Asia, excluding Myanmar, according to central bank governor Vitai Ratanakorn. Growth is expected to come in at 2.2 per cent in 2025.
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