DPM Kittiratt: Eurozone crisis fallout poses no significant impact on Thailand


BANGKOK, 14 July 2012  – The deputy prime minister in charge of economic affairs has reassured the public that the Eurozone debt crisis has not posed any significant impact on the country yet.

Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said during the Yingluck Government Meets the People program, on Saturday, that the financial crisis in Europe has not elevated, with all related governments working hard to contain and solve the problems through such approaches as fund-raising and monetary policy.

For ASEAN, Mr. Kittiratt stated that all countries have cautiously devised and pursued their respective policies. Major economies, such as China and South Korea, have adjusted down their interest rates.

The Deputy PM added that the Thai government has also introduced a number of surveillance measures related to the interest rate policy, the energy prices and the tax policy, to prevent the country from being hit by the Eurozone debt crisis.

He reiterated that the impact of the financial crisis in Europe has not reached Thailand although he conceded that all measures must be carefully implemented to shield the local economy from any undesirable fallout.

When asked about the export industry, Mr. Kittiratt said that all state banks have provided assistance to business operators, who are in need of help. Such assistance includes special loan consideration and the opening up of new markets.

He noted that a number of sectors may be hit by the Euro crisis, including jewelry, textile, garment and electronics. However, he assured that the government has started discussion to find solutions for them on an individual basis.