The Federation of Thai Industries (FTI) expressed concern about the increasing oil prices and the depreciation of the Thai currency, while asking the government to carefully manage these worrying issues as they will put tremendous pressure on Thailand’s slow economic growth dampened by the COVID-19 pandemic.
Chairman of the FTI Supant Mongkolsuthree explained that higher oil prices will increase production cost and prices of goods, while a sluggish economy will partly affect the baht’s value.
The Energy Policy Administration Committee resolved earlier this month to cap the diesel price at 30 baht per liter starting today until the end of this month as part of the effort to ease the impact of increasing oil prices in the global market. (NNT)
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