Ekniti Highlights Investment as Key to Thai Economic Growth Amidst Inflation Concerns

Bangkok: Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, emphasized the crucial role of investment in driving the Thai economy while addressing inflation and the current account deficit. Ekniti spoke at the 2026 Advanced Economic Journalists' Capacity Building Program organized by the Economic Journalists Association, focusing on strategies to enhance economic growth beyond the 3% target. According to Thai News Agency, Ekniti pointed out that Thailand has historically depended on exports, making it vulnerable to global economic downturns. To counter this, the government is pivoting towards investment as a primary growth engine. Over the past seven months, efforts to stimulate both private and public sector investment have started yielding positive results, with private investment expanding by 10% in the first quarter. Despite these advances, Ekniti cautioned against two significant risks: inflation and the current account deficit. Inflation rose to 2.7% in the second quarter due to ris ing energy costs, potentially affecting living expenses and purchasing power. Additionally, the current account deficit has surpassed US$14 billion, highlighting expenditures outstripping revenues. Ekniti underscored the importance of free trade agreements and attracting global investors relocating production bases to Thailand. Investment in future industries and clean energy, facilitated by regulatory changes, aligns with global trends and regulations. Furthermore, enhancing the skills of the Thai workforce and accommodating an aging society are vital for boosting economic potential, aiming for growth to exceed 3%. Reforms will focus on energy transition, workforce skills development, and regional investment diversification. The government, through the Joint Public-Private Sector Committee for Economic Problem Solving, plans to support private sector investment by addressing fiscal policies, trade, labor skills, and business regulations. Infrastructure and clean energy investment will be accelerated to bol ster investor confidence and economic stability. Ekniti concluded by stressing the urgency of these measures, stating that the opportunity for Thailand's economic resurgence must be seized now.