BANGKOK, 9 August 2012 – Mr. Kittiratt Na-Ranong, Deputy Prime Minister and Minister of Finance, has urged the Bank of Thailand (BoT) to revise its monetary policy to promote Thai export.
According to Kittiratt, he wants the BOT to readjust its monetary policy regarding Thai currency. He said the Central Bank should lower the interest rate from 3 percent to 2.5 percent in order to trigger investment in the country and most importantly to weaken the Thai baht, which will result in more export of the country given foreign importers will have a higher purchasing power when purchasing Thai products.
And since Thailand is facing a 400 billion baht deficit in the 2012 fiscal year, the government will try its best to balance the budget as early as possible. Mr. Kittiratt added that the government will carry on its mega investment project within this year.
