## Thailand: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand

_IMF Staff Country Reports, January 30, 2024_

## Source details

**Canonical URL:** [Thailand: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Thailand](https://www.imf.org/en/publications/cr/issues/2024/01/29/thailand-2023-article-iv-consultation-press-release-staff-report-and-statement-by-the-544271)

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## Bibliographic details
- Published: January 30, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400267499.002

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### Overview
- Thailand’s economic recovery from the COVID-19 pandemic and multiple shocks in 2022 is continuing, amid elevated uncertainty.
- Policies have gradually normalized to support growth and financial stability while protecting the population from the high inflation, but there is limited space to absorb new shocks.
- Heightened global uncertainty, with downside risks prevailing, puts an extra premium on prudent macroeconomic management.

### Key economic projections and indicators
- Growth is projected at 2.5 percent in 2023, broadly on par with 2022.
- Inflation is expected to remain well-within the authorities’ target range.

### Policy assessment and implications
- Macroeconomic policy stance has been moving toward normalization to support growth and financial stability.
- Social protection and measures to shield the population from high inflation remain part of policy actions.
- Limited fiscal and policy space implies reduced capacity to respond to additional adverse shocks.

### Risks and recommended priorities
- Downside risks from heightened global uncertainty are emphasized.
- Priority placed on prudent macroeconomic management to mitigate external and domestic shocks.

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_Source: https://www.imf.org/en/publications/cr/issues/2024/01/29/thailand-2023-article-iv-consultation-press-release-staff-report-and-statement-by-the-544271_