BoT warns Govt not to boost economy by spending hefty budgets
The Bank of Thailand (BoT) has advised that the Government should not focus on spending large sums of money on projects to stimulate consumption but should rather save some for emergency.
During a seminar entitled ‘Thailand: Moving Forward with the New Government’, BoT Governor Prasarn Trairatvorakul stated that the central bank would remain committed to its goal to maintain the national economic stability as well as financial balance in 2012. Personally, he disagreed with the Government’s investment of huge budgets in an attempt to encourage the domestic consumption, suggesting that the money should instead be reserved for use in emergency cases.
In addition, the BoT Governor believed inflationary pressures would persist through next year due to both internal and external factors. He also projected that the appreciating baht currency coupled with uncertainties in the global economy would result in fluctuations in the capital flow.
BANGKOK, 5 October 2011 (NNT) – Reporter : Surapan Laotharanarit
News Date : 05 October 2011
No comments:
Post a Comment