BOT confident that Thailand would not face an economic crisis

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BANGKOK, 9 May 2014 ( – BOT Governor Prasarn Trairatvorakul has accepted that even though the Thai economy is having problems due to less companies operating businesses this year and lower income levels among workers. However, he sees these situations as temporary short-term problems. 

Mr. Prasarn said that even though the nation’s GDP growth for 2014 would likely be low, it would not lead to a negative growth or an economic crisis as Thailand’s economic fundamentals still remain strong.

The governor stated that it’s best to follow up on the progress of the political situation after the Constitution Court reached a verdict on May 7th to remove Ms. Yingluck out of her prime ministerial position.

He said that the BOT would have to adjust the GDP and export growths down from their original targets of 2.7 percent and 4.5 respectively, citing the reason that Thai exports during the first quarter had grown lower than expected.