ID :
393149
Fri, 01/08/2016 - 08:54
Auther :

DPM:Thailand's economic fundamentals remain strong

BANGKOK, January 8 (TNA) - Deputy Prime Minister Somkid Jatusripitak, who oversees economic affairs, assures that Thailand is ready to cope with fluctuations resulting from Chinese economic problems currently, thanks to strong national economic fundamentals. Somkid insisted on Friday that Thailand can cope with the current fluctuations, as the country's economic fundamentals remain strong and the Thai government has already worked out measures to handle negative impacts on financial and stock markets. Admitting that China's depreciation of its yuan or renminbi to solve domestic economic problems has caused fluctuations on global markets, the deputy premier told journalists that the Bank of Thailand (BOT) is working out suitable foreign exchange rates. Meanwhile, Finance Minister Apisak Tantivorawong pointed out that the impacts from the Chinese economic problems on global financial and stock markets are normal, but Thailand must strengthen the national economy to cope with external risk factors, including ongoing tensions in the Middle East and the Korean Peninsula, as well as an anticipated further key interest rate hike by the US Federal Reserve (FED) in the near future. The minister conceded that China's current economic slowdown would certainly affect Thai exports and the Thai government is, therefore, speeding up domestic investment in both the public and private sectors, stimulating domestic consumption and assisting all groups of low-income people to cushion the negative impacts. (TNA)

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