BANGKOK, July 2 (TNA) – The Bank of Thailand (BoT) is more worried about Asian economy, especially China, more than Greece while it forecast that Thai economy in 2015 would sustain growth of 3 per cent, said Don Nakornthab, director of BoT’s Macroeconomic Policy Division.
Economic problems in China and the rest of countries in Asia are much more crucial than Greece which missed a 1.5-billion euro payment to the International Monetary Fund, said Mr. Don.
Thailand’s economic growth this year would be 3 per cent while the BoT is quite disappointed that economic recovery is much slower than it had projected due to soaring household debt and low prices of agricultural products, said Mr. Don.
On Bot’s Monetary Police Committee’s decision to maintain the policy interest rate at a low 1.50 per cent, Mr. Don admitted that the rate is already quite low and it posed a little effect on local spending because commercial banks would be careful in approving lending.
Presently, Thailand still enjoys a high current account in surplus which could cushion the value of the baht not to weaken much, he said.
Echoing Mr. Don’s views, Phacharaphot Nuntramas, director of Siam Commercial Bank’s Macroeconomic Division, said his bank still maintained Thai economy to grow at 3 per cent this year although economy in the first half of 2015 was slow.
Mr. Phacharaphot said the bank hoped that the disbursement by the government for investment in massive projects plus global economic recovery could be positive factors to push the Thai economy during the second half of 2015. (TNA)
