InfoQuest (May 5, 2022) - Arkhom Termpittayapaisith, Minister of Finance of Thailand announced that the Thai baht has weakened recently and hit a near five-year low. The devaluation of the Thai baht is good for exports and increases the price difference. Moreover, due to the sharp rise in international oil prices, the import cost of raw materials, especially oil, will increase.
Although the government has rolled out measures to stabilize the domestic energy prices, the adjustment must be made following the market mechanism at last.
Arkhom added that the 3 baht per liter reduction in diesel excise duty is due to expire on May 20 this year, and whether it will be extended is yet to be considered.
Source: InfoQuest, by Khll/Rachada Kongkhunthian/Sasithorn Simaporn, translated by Xinhua Silk Road
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