Industrialist hails govt measures to tackle surging baht

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BANGKOK, May 29 – The government’s newest financial and economic package particularly related to the movement of the Thai baht, will be a blessing to Thailand’s exports, a leading industrialist said today.

Payungsak Chatsuthipol, chairman of the Federation of Thai Industries (FTI), predicted a positive result of Thai exports in three months and said cooperation among state agencies has boosted investor sentiment.

He complimented the Finance Ministry for its decision to control foreign capital outflows – a move which he believed will deter speculation in the money market.

When the baht moves in accord with the currencies of Thailand’s trading partners, exports will surge, he said.

He expressed optimism that the Monetary Policy Committee (MPC) which meets today will come up with a decision in favour of the country’s economic stability.