BoT expects farmers’ debts and drought to affect economy

BANGKOK, Jan 15 (TNA) -- Drought and low farm product prices continue to limit farmers’ income and have impacts on their debts, the Bank of Thailand (BoT) stated on Jan 15. Roong Mallikamas, BoT’s senior director on macroeconomic and monetary policies, said farmers’ debts had been a serious problem since last year and drought and low farm product prices would continue to affect their income in the first half of this year. However, she said, farmers who had formal debts were enjoying moratorium from the government. The BoT expected farmers’ income to increase in the second half of this year as weather conditions should be gradually improving. The BoT and other governmental organisations were closely monitoring the economic impacts of drought, Ms Roong said. (TNA)