Prime Minister Srettha Thavisin urges the Bank of Thailand to consider the potential risks to the country’s delicate economic recovery when making decisions regarding monetary policy.
He expressed concern that the decade-high borrowing costs, currently standing at 2.5%, could potentially impede the nation’s economic revival and affect the populace adversely.
During a parliamentary budget debate, PM Srettha revealed that the proposed 3.48 trillion baht (US$101 billion) budget for the fiscal year ending September 30, would result in a deficit of 693 billion baht (US$20 billion).
This represents a 100 billion baht (US$2.9 billion) increase from the shortfall estimated by the preceding administration in their initial draft.
The 61 year old PM shed light on the Bank of Thailand’s progressive tightening campaign over the past 13 months, which has seen its benchmark repurchase rate…
