BoT says there remain imminent risks to Thai economy

BoT Governor Veerathai Santiprabhob.
BoT Governor Veerathai Santiprabhob.

Bangkok – The Bank of Thailand (BoT) says that even though the Thai economy is recovering, the ongoing US-China trade war and currency fluctuations could hamper its growth.

BoT Governor, Veerathai Santiprabhob, said the impact of the trade war between the two giant economies is likely to have some impact at the end of this year.

Other risks to the Thai economic growth, besides currency fluctuations, are the fatal boat accident in Phuket in July, which has already affected the tourism sector, and the quantity of non-performing loans.

He claimed commercial banks are offering loans to home buyers in amounts much greater than home prices without taking into consideration their financial capability.

The Monetary Policy Committee is now paying close attention to these factors to prevent any future threats to the economy.