Finance Ministry asks BOT to manage baht to help exports
Finance Minister Arkhom Termpittayapaisith has asked the Bank of Thailand to manage the baht in a way that favours exporters and economic recovery.
Related story: Baht strengthens a tad
Arkhom said on Wednesday that the economy is expected to contract less than previously projected this year, thanks to recovering domestic purchasing power. The government also continues to launch new stimulus measures to boost flagging economic engines.
The ministry's Fiscal Policy Office has revised its 2020 GDP forecast upwards from an 8.5 per cent contraction to 7.7 per cent contraction. Arkhom expects the National Economic and Social Development Council to follow suit next week.
The minister assured that the government has enough budget ammunition for the 2021 fiscal year, despite continuing to launch stimulus measures to aid recovery from the Covid-19 fallout.
The Revenue Department has maintained its revenue target of Bt2.085 trillion next year, he added.
