ID :
199342
Fri, 08/05/2011 - 13:56
Auther :
Shortlink :
http://m.oananews.org//node/199342
The shortlink copeid
BOT: Thai economy is strong enough to cope with US, European problems
BANGKOK, August 5 (TNA) - The Bank of Thailand (BOT) said on Friday that the Thai economy is now strong enough in terms of financial and monetary aspects to cope with ongoing debt crisis in the United States and Europe.
BOT Governor Prasarn Triratvorakul acknowledged that Thailand has implemented flexible exchange rates and the country's foreign exchange reserves now stand as high as 170 billion US dollars, which can cushion the national economy from risk factors to a certain extent.
The BOT chief's remarks were in response to a plunge in the indices of worldwide stock markets, triggered by the US Dow Jones index overnight, due to doubts over economic solutions of the United States and Europe.
However, the BOT governor warned that concerned parties should monitor the updated international situation closely and refrain from excessive stimulation of consumption, which would, otherwise, spur the country's inflation and pose big problems to the national economy, suggesting that the incoming Thai government's budget deficit should be capped at some 350 billion baht and the proportion of public debt be limited at 60 per cent of the country's gross domestic product (GDP).
For long-term development, the Thai central bank chief said, the new government should speed up investment projects for national infrastructure development and enhance productivity to boost the country's competitiveness. (TNA)
BOT Governor Prasarn Triratvorakul acknowledged that Thailand has implemented flexible exchange rates and the country's foreign exchange reserves now stand as high as 170 billion US dollars, which can cushion the national economy from risk factors to a certain extent.
The BOT chief's remarks were in response to a plunge in the indices of worldwide stock markets, triggered by the US Dow Jones index overnight, due to doubts over economic solutions of the United States and Europe.
However, the BOT governor warned that concerned parties should monitor the updated international situation closely and refrain from excessive stimulation of consumption, which would, otherwise, spur the country's inflation and pose big problems to the national economy, suggesting that the incoming Thai government's budget deficit should be capped at some 350 billion baht and the proportion of public debt be limited at 60 per cent of the country's gross domestic product (GDP).
For long-term development, the Thai central bank chief said, the new government should speed up investment projects for national infrastructure development and enhance productivity to boost the country's competitiveness. (TNA)
