ID :
145233
Fri, 10/08/2010 - 10:06
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Shortlink :
http://m.oananews.org//node/145233
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BoT, Finance Ministry urged to respond properly to baht surge
BANGKOK, Oct 8 – Commerce Minister Pornthiva Nakasai on Thursday urged the Bank of Thailand and the Finance Ministry to step up their efforts to oversee and regain control of the stronger baht, saying exporters had already lost over Bt6 billion in revenue.
She said the baht had appreciated by 1.5 per cent over the past week, which is considered too rapid.
It resulted in exporters losing over Bt6 billion from the monthly average export value of Bt450 billion.
Because of this, she called on the central bank to provide additional measures to cope with the baht surge, properly and quickly.
Simultaneously, the Finance Ministry should more quickly help small- and medium-size enterprises by urgent setting up a relief fund and lending with easing terms and conditions to ensure SMEs have easier access to capital sources.
The ministry should speed up issuing measures to control foreign capital inflow, she said. The proposals had been already raised in discussion with the finance minister.
She believed the export sector would grow by 20 per cent with a monthly value of US$15 billion or Bt450 billion in the rest of the year, but should the baht continue strengthening next year, she said, exports would definitely be negatively affected. (MCOT online news)
She said the baht had appreciated by 1.5 per cent over the past week, which is considered too rapid.
It resulted in exporters losing over Bt6 billion from the monthly average export value of Bt450 billion.
Because of this, she called on the central bank to provide additional measures to cope with the baht surge, properly and quickly.
Simultaneously, the Finance Ministry should more quickly help small- and medium-size enterprises by urgent setting up a relief fund and lending with easing terms and conditions to ensure SMEs have easier access to capital sources.
The ministry should speed up issuing measures to control foreign capital inflow, she said. The proposals had been already raised in discussion with the finance minister.
She believed the export sector would grow by 20 per cent with a monthly value of US$15 billion or Bt450 billion in the rest of the year, but should the baht continue strengthening next year, she said, exports would definitely be negatively affected. (MCOT online news)
