1、AMRO Country Report ACR/25-11 ASEAN+3 Macroeconomic Research Office(AMRO)December 2025 AMRO Annual Consultation Report Thailand 2025 ANNUAL CONSULTATION REPORT Thailand 2025 ASEAN+3 Macroeconomic Research Office(AMRO)Page 1 of 61 Acknowledgments 1.This Annual Consultation Report on Thailand has been
2、 prepared in accordance with the functions of AMRO to monitor and assess the macroeconomic status and financial soundness of its members;identify relevant risks and vulnerabilities;report these to member authorities;and if requested,assist them in mitigating these risks through the timely formulatio
3、n of policy recommendations.This is being done in accordance with Article 3(a)and(b)of the AMRO Agreement.2.This Report is drafted on the basis of the Annual Consultation Visit of AMRO to Thailand from August 18 to August 29,2025(Article 5(b)of the AMRO Agreement).The AMRO Mission team was led by Al
4、len Ng(Group Head and Mission Chief)and joined by Haobin Wang(Desk Economist),Benyaporn Chantana(Back-up Economist),Ravisara Hataiseree(Fiscal Specialist),Xianguo Huang(Senior Economist)and Yuhong Wu(Research Analyst).AMRO Director Mr.Yasuto Watanabe and Chief Economist Dr.Dong He participated in ke
5、y policy meetings and courtesy calls with the authorities.The AMRO Annual Consultation Report on Thailand for 2025 was peer reviewed by a group of economists from AMROs Country Surveillance,Financial Surveillance,and Fiscal Surveillance teams;endorsed by the Policy and Review Group;and approved by D
6、r.Dong He,AMRO Chief Economist.3.The analysis in this Report is based on information available up to November 17,2025.4.By making any designation of or reference to a particular territory or geographical area,or by using the term“member”or“country”in this Report,AMRO does not intend to make any judg