BoT Governor certain Thai economic foundation helps maintain GDP

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Thailand’s central bank governor is confidant that the country’s strong economic foundation will help maintain the gross domestic product (GDP) despite the current political confusion.

Bank of Thailand (BoT) Governor Prasarn Trairatvorakul spoke on the Thai economic tendency this year, saying that the strong economic fundamentals will help support the country’s slower economy. He said in the worst case scenario, Thailand’s GDP will not be in the minus sphere and there will be no economic crisis.

However, political situations must be closely monitored for further estimates. 

Mr Prasarn said the Thai economic foundation could help the country weather the political problems in the short run, but it will be worrisome if there are no more investments in the medium term, for investors are waiting for political clarity. 

He noted that the baht currency movement has been stable even during the moment the Constitutional Court ruled yesterday the case of caretaker Prime Minister Yingluck Shinawatra.

The Court dismissed her yesterday, saying that she has abused of the power of her office in the case involving her order to transfer National Security Council (NSC) chief Thawil Pliensri to an inactive post in 2011.