Thailand’s economy saw an increase in external demand but domestic demand was not “sufficiently strong”, according to a minutes of the Bank of Thailand (BoT)’s latest policy meeting.
A river in Thailand. Illustrative photo (Photo: The Straits Times)
Bangkok (VNA) – Thailand’s economy saw an increasein external demand but domestic demand was not “sufficiently strong”, accordingto a minutes of the Bank of Thailand (BoT)’s latest policy meeting.
The minutes show that some members of the country’sMonetary Policy Committee (MPC) felt economic growth was still “at the initialstage” and facing structural changes, the minutes said.
Household debt remained an issue, particularly for low-incomeearners while expansion in private consumption needs to be closely monitoredafter the Thai government’s 2018 supplementary budget is spent.
The MPC viewed that it is still necessary to adopt anaccommodative monetary policy stance to foster stronger domestic demand. Publicinvestment would remain a key growth driver and was expected to resume growth,the minutes added.
The BoT forecast that Thailand’s economy will grow by 3.9percent this year, as much as in 2017. It will review the projection during thenext policy meeting on March 28.
Most economists expect no policy change for the rest of2018 while some predict interest rate hikes in the second half of the year.-VNA
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A river in Thailand. Illustrative photo (Photo: The Straits Times)
