BOT ready to deal with strengthening baht: Arkom

By THE NATION

 

 

The Bank of Thailand (BOT) is ready to deal with a strengthened baht to support exporters, Finance Minister Arkom Termpittayapaisith said on Wednesday.

 

“The baht has strengthened at a high rate and the BOT will take more steps to control this,” he said at the Bangkok Post International Forum 2020.

 

Arkom said financial policies next year will focus on investment to prepare Thailand for the time when its economy recovers fully from the Covid-19 crisis.

 

Digital technology, environment and health will help economic recovery, he said.

 

Arkom promised that the government would be careful when borrowing money.

 

He also said his ministry would reform the tax system.

 

The minister said the second phase of the “Khon La Krueng” campaign will launch from January 1 and is expected to stimulate domestic consumption in Thailand, increasing the gross domestic product (GDP) by at least 3.5 per cent next year.

 

He mentioned that Thai GDP in 2020 will contract around 6 per cent, while the International Monetary Fund predicted it would contract by 7.1 per cent.

 

Source: https://www.nationthailand.com/news/30398595

 

-- © Copyright The Nation Thailand 2020-11-26

 

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Please tell me when you do, because so far measures only last a few days ... and then the beat goes on again.

48 minutes ago, webfact said:

“The baht has strengthened at a high rate and the BOT will take more steps to control this,” he said at the Bangkok Post International Forum 2020.

Yes more meetings and more talk .

18 minutes ago, keith101 said:

Yes more meetings and more talk .

A committee will be set up to investigate what measures can be taken...????

Start paying their salaries in euro's, that will teach them! LOL

5 hours ago, petermik said:

A committee will be set up to investigate what measures can be taken...????

.....to set up the committee to investigate and approve a committee to investigate the issues

All talk and no action.

A bunch of incompetent administrators bowing to the billionaire elite that need a high baht for theiir activities.

I feel that the finance minister that they poached from the private sector knew what to do but his underling

refused to co-operate , so he resigned after a month.

10 hours ago, webfact said:

Arkom said financial policies next year will focus on investment to prepare Thailand for the time when its economy recovers fully from the Covid-19 crisis

There is no Covid crisis in Thailand, the economic issues are here to stay... or get worse.

And the adjacent story is: Baht weakens, analyst advises investors to monitor market direction.

 

Stop this nonsense. Baht up, baht down, defending the falling baht, controlling the rising baht. At least everyone try to sing from the same songsheet....