BOT Governor says coup won’t affect Thailand’s economic stability

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Dr. Prasarn Trairatvorakul, Governor of the Bank of Thailand says even though The National Peace and Order Maintaining Council (POMC) declared a coup on May 22, 2014, it won’t affect the overall economic stability of Thailand.

However, some investors may reduce their investment activity. Therefore, the figures on the Thai economy may be lower this year, but it won’t have any effect on the stability of the Thai economy. Dr. Prasarn Trairatvorakul added that he worries about SME entrepreneurs since they may suffer a greater impact in the current situation.

Dr. Prasarn Trairatvorakul said he does not believe that the Thai baht will depreciate to 37 baht/USD as the company Morgan Stanley has forecast. Although some investors may lose faith in the Thai economy, Thailand still has not lost its credibility. Recently Standard and Poor’ s affirmed the Thai credit rating, which is a good sign that Thailand’s overall credibility is not impacted.