Bangkok: Supajee is optimistic about GDP growth this year, predicting it could exceed 2% if the US and Iran successfully sign an agreement to end the war. Deputy Prime Minister and Minister of Commerce, Supachie Suthamphan, commented that the anticipated formal signing of an agreement between the US and Iran could positively impact exports. She mentioned that the Ministry of Commerce had initially projected GDP growth for 2026 at 1.5-2%, after a first-quarter forecast of 2.8%. This optimistic outlook is based on the expectation that a peace agreement would lead to smoother transit through the Strait of Hormuz and lower energy prices, enhancing purchasing power and trade. However, she emphasized the importance of monitoring the situation closely over the next one to two days and preparing for all potential scenarios. Danucha Pichayanant, Secretary-General of the National Economic and Social Development Council (NESDC), also stated that the council would wait to assess the situation post-signing, as various fac tors could influence GDP growth.
According to Thai News Agency, Ms. Supajee shared insights into the "Thai Helps Thai Plus 60/40" project, which commenced in April and has successfully alleviated the cost of living while stimulating public spending. A comprehensive evaluation will be conducted using compiled data, followed by discussions with Deputy Prime Minister and Minister of Finance, Mr. Ekniti Nitithanprapas, about increasing funding. Mr. Varawut Silpa-archa, Minister of Industry, expressed confidence that the project will drive continued growth in the Thai industrial sector in the year's second half, despite risks related to energy prices and transportation costs due to the Middle East conflict.
Energy Minister Ekanat Promphan outlined the government's plans to reform the electricity tariff structure to ensure fair pricing and reflect actual costs. Future reforms will tackle issues such as unfair power plant contracts, system losses, and incorporating public lighting into the base electricity rate. A new electricity user category, "Category 9," will target data centers with higher rates based on their consumption of expensive imported gas, exceeding residential user rates. This rate difference will be used to subsidize domestic industries and the public. The government also plans to promote clean energy by expediting the purchase of excess electricity from rooftop solar panels, aiming for completion this month. Support will be provided through down payment assistance or reduced interest rates via state banks, encouraging adoption without direct cash handouts.