Kiatnakin Phatra Financial Group (KKP) has urged the Thai government to implement comprehensive structural reforms to elevate the country's gross domestic product (GDP) growth to over three percent per annum.

Speaking on Thursday, KKP's chief economist Pipat Luengnaruemitchai stated that the economy is currently projected to grow by approximately two-point-six percent this year, a figure that mirrors last year's performance and falls short of the pre-Covid growth rate of over three percent per annum.

Pipat attributed the modest growth to several key factors.

He noted that struggling manufacturing and agricultural sectors, tighter lending criteria resulting in fewer loans, and a surge in public debt—projected to approach seventy percent of GDP—have all contributed to the subdued economic performance.

While the service and tourism sectors have supported the economy over the past two years, Pipat observed that the manufacturing sector has only recently begun to recover, with automated manufacturing losing some of its previous momentum.

The economist also highlighted concerns regarding potential impacts from trade policies under United States President Donald Trump.

He pointed out that Thailand currently maintains a trade surplus with the United States exceeding forty billion dollars, and that increased scrutiny, particularly affecting exports such as electronics, rubber, solar cells, machinery, and auto parts, could further challenge economic growth.

Pipat emphasized that short-term economic stimulus measures would be insufficient and called for a comprehensive reform of the overall economic system as a long-term solution to future uncertainties.

These remarks come as Thailand navigates a complex economic landscape marked by global trade shifts and domestic fiscal pressures.