Ekniti tells state firms to step up imports as baht hits near four-year high

Caretaker Finance Minister Ekniti Nitithanprapas on Monday, December 15, 2025 voiced concern that the baht’s strongest level in almost four years could hurt exports and the broader Thai economy, saying he would ask state enterprises and government agencies to accelerate imports.

Immediate steps to ease baht appreciation

Ekniti said he would instruct state firms and agencies to bring forward imports of machinery and other necessary goods, both to take advantage of the strong baht and to help reduce upward pressure on the currency.

He also said he would ask the Public Debt Management Office to consider repaying foreign-currency debt, describing it as another measure that could be implemented quickly.

Talks with the Bank of Thailand

The caretaker finance minister, who is also caretaker deputy prime minister overseeing economic affairs, said he had discussed the baht’s rapid gains with Bank of Thailand Governor Vitai Ratanakorn and asked the central bank to monitor the currency closely.

Ekniti said the Finance Ministry respects the BOT’s independence in setting monetary policy, but warned that an overly strong baht could weigh heavily on an economy that still relies largely on exports.

Why the baht has strengthened

Ekniti attributed the baht’s rise mainly to global currency trends after the US Federal Reserve cut interest rates, prompting capital to flow into markets offering higher returns.

He said Thailand’s economic structure is not yet ready for a baht this strong under current conditions.

Growth outlook

Ekniti also said he expects GDP growth of at least 1% in the fourth quarter, which would put full-year growth at around 2%.