Maybank IBG Research has released its latest reports on the economic outlook for Thailand and Singapore, highlighting key developments and forecasts. In Thailand, the Bank of Thailand (BOT) has maintained its interest rate at 1.75% but indicated a shift towards a more dovish monetary policy. The country’s GDP growth is projected to decline to 1.7% by 2026, down from 2.3% this year. The Thai Cabinet has approved a stimulus package worth THB115 billion, equivalent to 1.5% of GDP, to counteract potential economic challenges, including domestic political instability.
In Singapore, the report suggests that the city-state is well-positioned to benefit from capital rotations due to strong policy certainty amidst ongoing US economic uncertainties. The Singaporean market could gain momentum through equity market policy reforms and is expected to be driven by five key themes: domestic resilience, positive effects from China’s recovery, accelerating corporate capital returns, opportunities from the JS-SEZ, and AI-led efficiencies. Consequently, Maybank IBG Research has raised its 2025 Straits Times Index (STI) target to 4,185, with top stock picks including CICT, CD, CSE, FEH, ISOTeam, Sea, SGX, SCI, ST, and STEng.
These insights are crucial for investors and policymakers as they navigate the evolving economic landscapes in Thailand and Singapore. The reports underscore the importance of strategic planning and adaptation to both domestic and international economic shifts.
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