InfoQuest (January 2, 2020) -- The Thai baht has kept surging and the exchange rate is expected to surpass 30 baht/U.S. dollar this year. Thai Prime Minister and Defense Minister Prayut Chan-o-cha said that the government has been engaged in discussions on the issue with the Bank of Thailand (BOT), and a joint commission between the central bank and the finance ministry has also been formed, in a bid to closely monitor the exchange rate of the baht and seek additional measures to mitigate the impact of the appreciation.
With regard to the fact that many scholars expect the economic situation in Thailand to be worse this year than last year, the prime minister said that a rise or fall in the economy can be evaluated based both on internal and external factors, but the most important thing is how to solve the problem together. Mr. Prayut added that he is more willing to hear about solutions to the challenges facing the country's economy than criticism, and that the government stands ready to act if good advice is offered. It is now clear in the course of pressing ahead with work that many of the problems can be solved, but some still face legal obstacles.
Mr. Prayut said that the Ministry of Commerce has been pushing for the economy for some time, including signing agricultural trade agreements with Germany, the U.S. and Turkey, and boosting border trade with neighboring countries. The tourism sector remains good development momentum, with measures introduced to attract more tourists while preventing impacts on the environment and locals.
"All must join hands together and put the national interest first, for example, in case of construction projects such as roads and reservoirs that require land expropriation from the public, I hope our people will cooperate and make some sacrifices as too high compensation for land acquisition will weigh on the projects," said Mr. Prayut.
Source: InfoQuest, by Tanit Tongnok/ Rachada / Sasithorn, translated by Xinhua Silk Road
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