Thailand: Staff Report for the 2015 Article IV Consultation
IMF Staff Country Reports, May 7, 2015
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- Thailand: Staff Report for the 2015 Article IV Consultation
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Bibliographic details
- Published: May 7, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475519679.002
Executive summary and near-term outlook
- After a sharp contraction in the first quarter of 2014, Thailand’s economy experienced a modest recovery in subsequent quarters, to expand by 0.7 percent in the year as a whole.
- Inflation decelerated toward the end of 2014 and became negative in January 2015 owing to a sharp decline in oil prices.
- The recovery is expected to continue in 2015 with growth projected at 3.7 percent on account of some rebound in consumption, including from lower fuel prices, and in private investment as backlogs of project approvals have been largely cleared by various government agencies.
Key findings
- Economic activity: expansion of 0.7 percent in 2014 (year as a whole).
- Inflation: deceleration toward end-2014 and negative inflation in January 2015.
- 2015 projection: growth projected at 3.7 percent driven by rebounding consumption and private investment.
Policy-relevant observations (topics highlighted)
- Commercial banks; Credit; Financial institutions
- Inflation; Money; Prices; headline inflation; inflation expectation
- Oil prices; fuel price reform
- Public debt; infrastructure investment program; government project approvals
- Thai authorities; promotion strategy; U.S. dollar