Thai PM calls for close watch on impact of Eurozone crisis

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BANGKOK, 16 June 2012 – The Prime Minister has urged all related agencies to keep a close eye on the economic crisis in Europe as its impact can be drastic for Thailand. 

Prime Minister Yingluck Shinawatra, on Friday, chaired a meeting with the National Economic and Social Development Board (NESDB) and related agencies, in which the discussion focused on the fallout from the ongoing economic crisis in Europe.

Participating officials updated the PM about how the situation in Europe has been affecting Thailand, while the Premier instructed all agencies to come up with the most effective fiscal policy tools to safeguard the country.

PM Yingluck, however, noted that Thailand has been preparing itself to cope with the crisis fallout for some time, by putting more emphasis on domestic spending and consumption, to help protect Thai SMEs and export sectors from any severe impact.

However, she conceded that the European crisis remains an issue that must be closely monitored, while adding that more measures may be introduced once related figures from the Ministry of Finance, the NESDB and the Bank of Thailand are available.