“ไทยช่วยไทยพลัส” กระตุ้น ศก. กกร. เพิ่มเป้า GDP ปี 69 แตะ 2.0%“Thai Help Thai Plus” Stimulates Economy, JOINT Raises GDP Target for 2026 to 2.0%

On Wednesday, June 10, 2026, Mr. Payong Srivanich, President of the Thai Bankers' Association, chaired a press conference held by the Joint Committee of the Private Sector (JOINT), alongside Ms. Pimjai Leeissaranukul, President of the Federation of Thai Industries (FTI), and Dr. Phon Aramwatananon, Chairman of the Thai Chamber of Commerce, at the Queen Sirikit National Convention Center.

Thailand's economy is receiving support from the “Thai Help Thai Plus” program with a budget of approximately 170 billion baht, which will help stimulate domestic spending. JOINT has raised its forecast for Thailand's economic growth to 1.6%-2.0%, up from the previous estimation of 1.2%-1.6%. The inflation rate is estimated to be 2.5-3.0%, an increase from the earlier forecast of 2.0-3.0%, while expectations for exports have been revised to grow by 8%-10%, compared to an earlier projection of no growth, reflecting strong growth in technology product exports.

Energy security remains a pressure point for the global economic direction this year. Energy exports from the Middle East through the Strait of Hormuz have yet to show any signs of returning to normal conditions in the near future. In the second half of the year, OECD countries are likely to accelerate crude oil imports to replace their diminishing reserves, which may make sourcing crude oil from other production areas outside the Middle East more difficult and expensive. This situation will continue to keep the costs of producing goods and services high, with a potential increase in the future.

Thailand's economy is facing a K-shape scenario where exports experienced significant growth of 18.9% during the first four months of the year, with technology products growing by 48.4%. This is aligned with the megatrend of investments in AI and data centers, consistent with export growth rates from other Asian nations that exceed previous forecasts. However, the increased exports of technology products have not significantly benefited the Thai economy due to the heavy reliance on imported raw materials. Meanwhile, production and exports of other products have stagnated, as operators express concerns about commodity shortages and high raw material costs impacting competitiveness. Domestic demand remains sluggish prior to economic stimulus measures, following a rise in the cost of living. JOINT is concerned about the downward pressure from the K lower leg, which does not benefit from increased exports and FDI, as evidenced by recent data from over 300 listed companies indicating that they are affected by rising costs and declining revenues. It is therefore necessary to accelerate economic restructuring, adjusting the K upper leg to be a crucial “catalyst” that creates added value, channeling FDI into Thailand's real economy, generating employment for Thai people, and allowing Thai businesses to benefit more.

Thailand's economy is receiving support from the “Thai Help Thai Plus” program with a budget of approximately 170 billion baht, which will help stimulate domestic spending. JOINT has revised its economic growth forecast for 2026 to 1.6%-2.0%, an increase from the previous estimate of 1.2%-1.6%. The inflation rate is projected to be 2.5-3.0%, up from 2.0-3.0%, with adjusted export growth expectations of 8%-10%, which had originally been forecasted as stagnant. Thailand can capitalize on opportunities from megatrends in investment to rapidly restructure the economy to become a destination for manufacturing relocation, a Middle & Back Office hub for multinational companies, and a Regional Hub for manufacturing, services, and finance. Additionally, opportunities from global trends in AI, Data Centers, and Cyber Security should be leveraged to enhance the Smart Electronics and Advanced Manufacturing industries, increasing local content, developing R&D, and improving laws and regulations that currently hinder investment, while preparing for OECD membership in line with the Reinvent Thailand initiative aimed at supporting seven target industries, which aligns with the industries that the BOI is focused on supporting, and the future industry recommendations from the World Bank for Thailand to attract foreign direct investment (FDI), transfer technological knowledge, and enhance opportunities and capabilities for Thai entrepreneurs and employment in the long term.

JOINT believes that Thailand should take advantage of its role as host for several international meetings in various forums, such as the third ABAC meeting in 2026, Gastech 2026, the Thailand-US Trade & Investment Forum 2026, and the IMF-World Bank Annual Meeting, to showcase Thailand's potential and instill confidence in the global community, especially in driving the new economic model focused on productivity, innovation, investment in future industries, and the competitiveness of the private sector. The World Bank has honored us by presenting data on the meetings for JOINT's acknowledgment, as the World Bank is preparing the Flagship Report “Building Thailand’s Future Today”, which can serve as an analytical data base to present Thailand's strengths, linking it to the Reinvent Thailand initiative and extending it to positive communication ahead of the October meetings to build confidence and attract collaboration from investors and international partners, including coordination with the World Bank and the private sector in organizing the Affiliate Program.

In the JOINT meeting, the energy situation of the country was discussed under the uncertainty of conflicts in the Middle East region, where peace negotiations have yet to reach conclusions. Nevertheless, JOINT assured that Thailand still has energy security, with crude oil and finished oil reserves totaling approximately 13,384 million liters, sufficient for domestic use for about 109 days, without any signs of an energy shortage. In the meantime, the oil refining industry is continuously enhancing risk management regarding raw material procurement by reducing reliance on crude oil from the Middle East from approximately 55% to around 27%, while increasing supply from other sources to about 73%, to enhance energy flexibility and security, reduce impacts from geopolitical fluctuations, and support the supply chain and domestic production continuity. Moreover, JOINT expects that the country’s Power Development Plan (PDP 2026) will be announced within August to provide an important framework for the long-term energy structure of the country, addressing energy security, promoting biofuels to reduce dependency on imports, managing electricity costs to remain at appropriate levels, and increasing the share of renewable and clean energy, which will enhance the competitive capabilities of Thailand's industrial sector in the future.

               
Economic Forecast Framework for 2026 by JOINT

Year 2025
GDP 2.4
Exports 12.9
Inflation -0.1

Year 2026
(As of Jan-Mar 2026)    
GDP 1.6 to 2.0
Exports -1.5 to -0.5
Inflation 0.2 to 0.7

Year 2026
(As of Apr-May 2026)    
GDP 1.2 to 1.6
Exports -1.5 to -0.5
Inflation 2.0 to 3.0

Year 2026
(As of Jun 2026)
GDP 1.6 to 2.0
Exports 8.0 to 10.0
Inflation 2.5 to 3.0

Source: NESDC, Ministry of Commerce, and forecasts by JOINT.

JOINT, along with the Economic Journalist Association, signed a Memorandum of Understanding (MOU) to continue the CEO Econmass Awards 2026 project for the fourth consecutive year, honoring outstanding leaders in the business sector as models of success (outstanding CEOs) in various categories. This includes the Outstanding CEO - Large Enterprise award for leaders with evident accomplishments and contributions to the nation, the Outstanding CEO - Medium Enterprise award for leaders with vision and competitive enhancement, and the Outstanding CEO - Small Enterprise award for leaders excelling in innovation and creativity. This project plays an important role in inspiring the business sector to continuously develop their business potential.