Finance minister: Stay the course, corporate mavens

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Finance minister: Stay the course, corporate mavens

Published: 22 Mar 2013 at 00.00
Newspaper section: Business

While ruling out the possibility of short-term measures to rein in the strong baht, Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong said the Thai currency should be weakened to help drive exports.

Though the government will not engage in short-term measures, Mr Kittiratt says a weaker baht is needed over the medium term. PAWAT LAOPAISARNTAKSIN

"We want to see exports grow at a higher rate, and to make that happen, the baht should be weaker and interest rates lower," he told the CEO Economic Outlook forum in Bangkok yesterday.

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faranginkorat
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Discussion 2 : 22 Mar 2013 at 09.382
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There is much too much attention focussed on this exchange rate. Why not a peep about the recent yen/baht changes? Thailand imports nearly as much as it exports, so a stronger THB reduces the price of imports......Concentrate on making quality products, don't worry about the exchange rate.
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Worzel
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Discussion 1 : 22 Mar 2013 at 08.551
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How were these exporters businesses back when it was 25 to the USD? I get the impression the 97 crisis was a major benefit for them, so why should we care now that the tables are turned? Why should monetary policy be made for their benefit? Can't they cut prices to compensate, or is it greed we are expected to fund?

Also, luxury good imports should come down sharply. I recall Porsches doubled in value after 97 due to exchange rates, well these can return to former levels again as these 'importers' are now making far greater profits.

The currency war cuts both ways.
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Finance minister: Stay the course, corporate mavens | Bangkok Post: business