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KKP upgrades Thai GDP growth forecast to 2.5%

Today 13:52Key points summarised by AI

Kiatnakin Phatra Financial Group (KKP) upgraded Thailand's GDP growth forecast for 2026 to 2.5% and 2027 to 2.7%, driven by strong tourism, private investment, and exports linked to the global AI capital expenditure cycle.
The upward revision is primarily fueled by the growing strength of Thailand's electronics supply chain, particularly in data storage and AI infrastructure components, which are experiencing a rapid surge in demand.
KKP cautions that the national economy faces a 'K-shaped recovery,' with tech-driven sectors expanding rapidly while traditional industries and grassroots segments remain stagnant due to structural pressures and intense import competition.
The group urges the government and private sector to address structural issues by upgrading the value chain, integrating local suppliers, and effectively managing resources to ensure AI investment benefits remain within the country.
KKP anticipates the Bank of Thailand's Monetary Policy Committee will hold policy interest rates steady through 2027, as current inflationary pressures are temporary and rate hikes could strain vulnerable sectors without curbing high-income growth drivers.

Today 15:13Key points summarised by AI

Thailand's central bank relaxed loan-to-value (LTV) rules, increasing the limit to 100% for all housing contracts from May until June next year.
This move aims to support the ailing property sector, which is grappling with weak demand, oversupply, and high household debt, with minimal expected risk to financial stability.
The government also plans to announce reductions in transfer and mortgage registration fees within a month to further stimulate the property market, a crucial economic engine.