BOT governor reaffirms Thailand taking ‘gradual and measured approach’ to economic recovery
Bank of Thailand Governor Sethaput Suthiwartnarueput said on Tuesday that unlike many other countries, Thailand is taking a gradual and measured approach to the economy.
Speaking at the "Economic Outlook 2022" event held by Krungthep Turakij in Bangkok, the BOT governor said the Thai economy is in continuous recovery and the country's monetary policy is on the right track.
He said Thai economic conditions differed from those in other countries, so Thailand did not need to adopt the same measures.
Sethaput also dismissed concerns that the BOT was raising the interest rate too slowly to rein in inflation, insisting “we are not behind the curve”.
He added that while Thailand has yet to recover to pre-pandemic levels, certain other countries had already met their economic targets.
Kobsak Pootrakool, chairman of the Federation of Thai Capital Market Organisations, said he was worried about the country's exports.
Sanan Angubolkul, president of the Thai Chamber of Commerce, said China’s economic recovery next year would have a positive impact on Thailand apart from the return of Chinese tourists. He said Chinese tourists would definitely return as more than 90 per cent of China’s population has been vaccinated against Covid.
Although the number of foreign tourists has not reached the pre-Covid level, revenues at shopping malls of the Siam Piwat Group have exceeded 2019 numbers, group CEO Chadatip Jutrakul said.
Jareeporn Jarukornsakul, president and CEO of WHA Industrial Development, said Thailand still has plenty of investment opportunities although political changes could happen in the general election next year.
The other speakers are Jon Penrice Dow's Asia-Pacific president, Kriengkrai Thiennukul Chairman of The Federation of Thai Industries, Arthid Nanthawithaya Chief Executive Officer SCBXNapat Jatusripitak, co-founder and CEO of ViaLink and managing director of Siametrics Consulting Co Ltd, Korawad Chearavanont, CEO and Founder of Amity Co Ltd, a social cloud company, Dermphan Yoovidhya, CEO and founder of Rapid Group, Pratthana Leelapanang. Chief Consumer Business Officer at Advanced Info Services Plc, Jirayut Srupsrisopa, founder and Group CEO of Bitkub Capital Group Holdings Co Ltd, Phichet Rerkpreecha, CEO at Line Company (Thailand)