ID :
193698
Fri, 07/08/2011 - 11:43
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Shortlink :
http://m.oananews.org//node/193698
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BOT:Peaceful election is boosting Thailand's credit rating
BANGKOK, July 8 (TNA) - Bank of Thailand (BOT) Governor Prasarn Triratvorakul said Friday that the country's peaceful general election on July 3 with clear-cut polling results and the respect of the election outcome by leaders of both the Democrat and the Puea Thai Parties have prompted international credit rating agencies to raise the Kingdom's credit rating.
When making the comments, Prasarn told reporters that he was waiting for detailed policies to be announced by the majority-elected Puea Thai Party to see how they would affect Thailand's fiscal status, acknowledging if the impacts were slight, they would benefit the country; otherwise, the Puea Thai Party's populist policies would become negative factors for the Thai economy.
Prasarn said that he was also waiting for details of the new Puea Thai Party-led coalition government's six urgent policies to see how they would affect the country's inflation and the ratio of public debts against the gross domestic product or GDP. The six urgent policies include partially-suspended contributions to the state oil fund and increases in the daily minimum wage and salaries of government officials with their bachelor’s degrees.
The Thai central bank chief declined to give any comment on reports that the new Puea Thai government would influence the BOT's foreign exchange policy, noting that his comments could, otherwise, affect foreign exchange rates, warning, however, that risk factors remain in the Thai economy in the second half of this year, namely rising inflation, oil and food prices, as well as impacts from global economic conditions, especially those in the United States and public debts in Europe. The BOT chief projected, nonetheless, that the Thai economy should grow by 4.1% this year. (TNA)
When making the comments, Prasarn told reporters that he was waiting for detailed policies to be announced by the majority-elected Puea Thai Party to see how they would affect Thailand's fiscal status, acknowledging if the impacts were slight, they would benefit the country; otherwise, the Puea Thai Party's populist policies would become negative factors for the Thai economy.
Prasarn said that he was also waiting for details of the new Puea Thai Party-led coalition government's six urgent policies to see how they would affect the country's inflation and the ratio of public debts against the gross domestic product or GDP. The six urgent policies include partially-suspended contributions to the state oil fund and increases in the daily minimum wage and salaries of government officials with their bachelor’s degrees.
The Thai central bank chief declined to give any comment on reports that the new Puea Thai government would influence the BOT's foreign exchange policy, noting that his comments could, otherwise, affect foreign exchange rates, warning, however, that risk factors remain in the Thai economy in the second half of this year, namely rising inflation, oil and food prices, as well as impacts from global economic conditions, especially those in the United States and public debts in Europe. The BOT chief projected, nonetheless, that the Thai economy should grow by 4.1% this year. (TNA)
