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Finance, BOT to coordinate monitoring as economy threatens to stall: Somkid

Aug 09. 2019
Somkid
Somkid
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By The Nation

Somkid Jatusripitak, a deputy prime minister, has revealed a future plan to establish a committee coordinated between the Finance ministry and Bank of Thailand (BoT) to monitor economic condition.

He said that Finance Minister Uttama Savanayana had recently reported a successful discussion with BoT about the co-monitoring plans.

The major members of the committee will include the Finance minister as the chairman of the committee, the Finance secretary, the governor of The Bank of Thailand, the secretary general of the office of the Securities and Exchange Commission, and the secretary general the office of the National Economic and Social Development Council.

“It is an ideal plan for these people, who are almost of the same age and have the same vision, to work together and discuss current financial problems,” said Somkid. “Their teamwork will find a solution and prepare for the difficult situation [coming] in the near future ”

On August 6, the government discussed the unstable global economic situations that has arisen due to three trends – the US-China trade war, pro-democracy protests in Hong Kong, and a weakening of the Yuan currency.

As the Dow jones index has decreased during the China-Us trade war, Thailand is closely monitoring it as China holds many US bonds.

“I have directed every agency that is related to the situation, such as the Finance ministry, to hold discussions with financial institutions, the Bank of Thailand, and the Stock Exchange of Thailand to ensure better economic management,” Somkid said.

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