The country’s economy and financial systems are stable, despite ongoing foreign capital outflow, the Bank of Thailand said on Friday.
The central bank made the statement after the meeting of its Monetary Policy Committee and Financial Institution Policy Panel.
The meeting agreed that the economy still has good growth potential on the back of strong economic fundamentals, even though growth was slow in the first quarter of the year, due to a decline in domestic consumption.
The BoT said exports over the first four months of the year expanded better than those of other countries in Asia. However, it admitted that many small and medium enterprises (SMEs), particularly those that are labour intensive, were affected by the 300 baht wage hike policy.