Connect with us

Economics

Thailand to Cope with Impacts from Volatility in Financial Markets

Prime Minister Yingluck Shinawatra urged the people to remain confident in the sound foundation of the Thai economy, saying that impacts from volatility in the world economy might have panicked local investors

Boris Sullivan

Published

on

Thailand is in a good state of development on ETFs

Prime Minister Yingluck Shinawatra said that the Government is making efforts to cope with impacts from volatility in global financial markets.

Loading...

Speaking after the weekly Cabinet meeting, the Prime Minister revealed that the meeting had discussed concerns over the European debt crisis, which was leading to tumbling Asian markets.

She urged the people to remain confident in the sound foundation of the Thai economy, saying that impacts from volatility in the world economy might have panicked local investors. However, she said, all relevant agencies had been instructed to urgently restore confidence among investors.

stocks ETF

Prime Minister Yingluck Shinawatra urged the people to remain confident in the sound foundation of the Thai economy, saying that impacts from volatility in the world economy might have panicked local investors

The Prime Minister called on members of the media to help boost confidence in the Thai economy. As for the Government, she said that emphasis would be placed on generating more household income and strengthening the domestic economy.

Regarding a call by the private sector for the Government to review its populist policies, Prime Minister Yingluck said that all policies implemented by the Government were aimed at stimulating the country’s economy.

Moreover, the Government will accelerate infrastructure investment in order to generate employment. At the same time, it has still maintained fiscal discipline, putting in place an efficient fiscal risk management system.

Commenting on the European debt crisis, Deputy Prime Minister and Commerce Minister Kittiratt Na-Ranong said that the problem had continued some time and the Europeans would have to solve their problem. Thailand and other Asian countries have adjusted to the situation, so they felt only slight impacts.

Mr. Kittiratt stated that Thailand should focus on its local economy and not heavily rely on exports. Europe is one of Thailand’s major markets. To cushion impacts, Thailand should pay greater attention to export diversification in order to lessen the degree of export dependence on traditional markets.

Meanwhile, Governor of the Bank of Thailand Prasarn Trairatvorakul said that the Bank of Thailand was closely monitoring the volatility in the global financial markets. The recent sell-off by foreign investors in the Thai stock market was not worrisome, when compared with the flow-in capital. The Bank of Thailand was ready to cope with the situation, if the sell-off led to volatility in the baht. He believed that the sell-off would be in a short term because of worries about the euro-zone debt crisis.

Mr. Prasarn said that the Bangkok of Thailand is prepared to allow Thai investors to take more money out of the country in order to invest overseas. It will also conduct a study on a master plan concerning capital mobility to cope with flow-in capital in the long run and to prevent it from putting pressure on the baht and asset prices in Thailand.

via Inside Thailand — Thailand Making Efforts to Cope with Impacts from Volatility in Global Financial Markets.

Comments

Economics

EEC Expects 300-billion-baht Investment This Year

National News Bureau of Thailand

Published

on

logomain

BANGKOK (NNT) – Thailand expects investment to triple to at least 300 billion baht in the Eastern Economic Corridor (EEC) this year as investment projects previously held by the coronavirus outbreak get pushed forward again as the pandemic eases.

Loading...
(more…)

Continue Reading

Economics

Finance Ministry Seeks More Fund for Co-payment Scheme

Fiscal Policy Office (FPO) Director-General Kulaya Tantitemit said the number of registrants exceeded the target of 31 million and could tally more than 32 million.

National News Bureau of Thailand

Published

on

logomain

BANGKOK (NNT) – Thailand’s Finance Ministry is preparing to seek the Cabinet’s approval for additional funding for the Rao Chana (We Win) scheme following the better than expected number of registrants.

Loading...
(more…)

Continue Reading

Economics

New Business Registration Tops Highest since January 2019

The top three sectors for new business registrations in January were building and construction (634), real estate (299) and transport and logistics (192).

National News Bureau of Thailand

Published

on

logomain

BANGKOK (NNT) – New business registration topped 7,283 in January, the highest since January 2019, driven by the promise of Covid-19 inoculations and upbeat sentiment on the country’s economic outlook.

Loading...
(more…)

Continue Reading

Latest

Most Viewed

Subscribe via Email

Enter your email address to subscribe and receive notifications of new posts by email.

Join 13,634 other subscribers

Trending