PM Yingluck: Eurozone debt crisis will not affect Thailand

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BANGKOK, 7 July 2012  – The Prime Minister has assured the country that the Eurozone debt crisis will not have any serious impact on local economy, with the government keeping a close eye on the situation.

During the weekly “Yingluck Government Meets the People” show, Prime Minister Yingluck Shinawatra said that as the government has been closely watching the crisis in Europe, the public should not be worried about any fallout and all investments should continue uninterrupted.

PM Yingluck stated that, despite last year’s severe flood crisis, Thai exports still managed to grow, although not with a high rate, with the government’s fiscal position and liquidity remaining sound.

She added that, with the latest report suggested more than 300,000 potential employers are now out of job, the government is to make an assessment of the situation and the number of newly graduates before a solution can be identified.

Regarding the problems faced by Thai investors in Europe, the Premier said that possible solutions include a cutback in inventory, for which the Commerce Ministry has been assigned to lend help to business operators in need, particularly those from the jewelry and the textile sectors.

The Prime Minister reiterated that the government will maintain this year’s export growth target at 15 percent.

Lastly, the PM said that a working committee has been set up to monitor any possible fallout from the problems in Europe and to help those already hit by the crisis as well as to find new markets to offset the shrinking sales.