Finance Minister Ekniti Nitithanprapas
Thailand's economy grew by 2.8% year-on-year in the first quarter, though Finance Minister Ekniti Nitithanprapas cautioned that the expansion reflected conditions before the energy crisis fully took hold.He warned that rising inflation and weaker consumer spending power are likely to put pressure on the economy in the coming months.
The National Economic and Social Development Council (NESDC) reported the first-quarter expansion on Monday, accelerating from 2.5% in the fourth quarter of 2025. After seasonal adjustments, the Thai economy expanded by 0.7% from the fourth quarter of 2025.
According to Mr Ekniti, GDP growth in the first quarter was driven mainly by domestic investment, which expanded by 9.9%, supported by a 10.1% increase in private investment and a 9.4% rise in public investment.
"Investment is expanding at a double-digit rate for the first time in 11 years," Mr Ekniti said, adding that this was one reason rating agencies had upgraded their outlook on the Thai economy.
