ID :
200383
Wed, 08/10/2011 - 12:44
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Shortlink :
http://m.oananews.org//node/200383
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New Thai finance minister promises to maintain fiscal disciplines
BANGKOK, August 10 (TNA) - Thailand's newly-appointed Finance Minister Thirachai Phuvanatnaranubala has promised to maintain fiscal disciplines and to improve living conditions of local low-income earners.
Posting on the online social network facebook Wednesday, Thirachai thanked Prime Minister Yingluck Shinawatra on the honourable trust she has given him as the new finance minister, affirming that he will definitely perform the best of his abilities for public and national interests.
Thirachai voiced his full support for the new Puea Thai Party-led government's policy on upgrading quality of life of the grassroots people, including a new daily minimum wage hike plan, noting that any wage hike normally has only one-time impacts for a certain period of time through a rise of products' prices on the domestic market and inflation to some extent, not continual implications for several years as some have feared, which should, therefore, be under the Thai Commerce Ministry's regular control.
The new finance minister, who is a leading Thai economist and a former secretary general of the country's Securities and Exchange Commission or SEC, acknowledged, however that, when implementing populist policies, the new Thai government needs to parallelly ensure and sustain the Kingdom's firm financial and fiscal status.
The new finance minister also suggested that the Thai economy, like others in the Asian region, turn to rely more on domestic and regional demand, consumption and investment to ensure continual growth and development and to avoid uncontrollable global factors, namely the ongoing debt crisis in the US and European powerful economies with spreading adverse effects. (TNA)
Posting on the online social network facebook Wednesday, Thirachai thanked Prime Minister Yingluck Shinawatra on the honourable trust she has given him as the new finance minister, affirming that he will definitely perform the best of his abilities for public and national interests.
Thirachai voiced his full support for the new Puea Thai Party-led government's policy on upgrading quality of life of the grassroots people, including a new daily minimum wage hike plan, noting that any wage hike normally has only one-time impacts for a certain period of time through a rise of products' prices on the domestic market and inflation to some extent, not continual implications for several years as some have feared, which should, therefore, be under the Thai Commerce Ministry's regular control.
The new finance minister, who is a leading Thai economist and a former secretary general of the country's Securities and Exchange Commission or SEC, acknowledged, however that, when implementing populist policies, the new Thai government needs to parallelly ensure and sustain the Kingdom's firm financial and fiscal status.
The new finance minister also suggested that the Thai economy, like others in the Asian region, turn to rely more on domestic and regional demand, consumption and investment to ensure continual growth and development and to avoid uncontrollable global factors, namely the ongoing debt crisis in the US and European powerful economies with spreading adverse effects. (TNA)
