IMF Staff Country Reports

Thailand: 2018 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand

Publication Date:

June 4, 2018

Electronic Access:

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Summary:

This 2018 Article IV Consultation highlights that a cyclical recovery is under way in Thailand but has yet to become broad based. GDP growth is estimated at 3.9 percent in 2017, boosted by strong tourism services and manufacturing exports. Domestic demand remained sluggish amid structural challenges, and export gains failed to trickle down to household incomes and investments in other sectors. Headline inflation averaged 0.7 percent, below the target band for the third year in a row, reflecting low food prices and weak core inflation. The current account surplus remained large, at about 10.6 percent of GDP. Financial system stability continued to strengthen. The growth momentum is expected to continue in 2018 and 2019, supported by sustained export dynamism.

Series:

Country Report No. 2018/143

Subject:

Expenditure Financial sector policy and analysis Financial sector stability Inflation Inflation targeting Monetary policy Prices Public investment and public-private partnerships (PPP) Public investment spending