Kittiratt: World economic fluctuation will not affect Thai economy

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BANGKOK, 31 August 2013 Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said the current world economic fluctuation will not affect the country’s economy, while expressing confidence that the depreciation of Thai baht will benefit Thai export. 

During the “PM Yingluck Meets the People” program on NBT, Finance Minister Kittiratt mentioned about the world economic situation, saying the US’s and Japan’s measures to boost their economies will not affect Thailand, instead, he believes it will benefit the country’s economy as Thailand will see an influx of money coming in, causing the value of Thai currency to go down, which will in turn boost the export sector. The minister also affirmed that Thailand has sufficient reserves and strong economic foundation, unlike other countries in Asia that need foreign direct investments (FDI) to compensate for their trade deficit.

He further revealed that the current depreciation of Thai baht may have a slight effect on the country, but will benefit the exporters, adding that Thailand still sees a positive sign in the inflation rate.