Prime Minister Thaksin Shinawatra has defended his
decision to closely monitor movements in the local currency.
“I have instructed the finance minister, Dr. Somkid, to
supervise the baht and ensure it reflects the real value. I have never given
any signal that the economy was in trouble,” the premier said.
The premier said he was paying special attention to the
continuing weakening of the baht but so far it has not damaged the economy.
“Our policy never focuses on strengthening or weakening
of the baht. Actually, it stresses that the baht’s movement should reflect
its real value. That’s all,” said Thaksin.
The prime minister admitted that Thailand’s trade
deficit was largely because of rising oil prices. Gross domestic product
(GDP) growth will be lower than the target and inflation rates will remain
high, he said.
“To address these problems, we need to supervise the
economy as a whole and restore investor confidence,” Thaksin said.
The premier pledged to try to revive economic growth by
the end of the year, although it would very tough.
“But it is usual to be hard-pressed because we are
hired to solve the problems, not to take a rest,” Thaksin said.
The government will have to work hard to maintain the
country’s economic growth, he said. (TNA)
