BoT believes Greece will remain European Union member

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Bangkok, 7 August 2012  – Bank of Thailand or BoT is confident that Greece will remain as one of the European Union members. In any case,The BoT has assured that it has drawn up a plan to cope with the world’s economic impact on Thailand. 

Paiboon Kittisrikangwan, Assistant Governor Bank of Thailand, stated that the Monetary Policy Committee (MPC) has already assessed the situation and the tendency of 2013 world’s economy. If Greece continues to be in the European Union, trading between European members is expected to see a 5.1 percent growth.

However, if it is expelled from the block, the anticipated growth within the region will drop to 2.2 percent; which will have an impact on Thailand’s economic growth, resulting in the expansion of only 2.5 percent.

However, the Thai private sectors and people should be on a lookout and prepared for the economic impact that may come. Mr. Paiboon has assured that the BoT has a specific monetary policy to cope with the effect of world’s economic crisis. Additionally, Thailand’s public debt level is still low and the economy has been continuously driven by the Thai government