Care and feeding of a fragile economy

Care and feeding of a fragile economy

Finance Minister Apisak Tantivorawong discusses various policy positions and explains what needs to be done.

Apisak Tantivorawong, the Minister of Finance, believes that a rate hike at the moment makes little sense. (Photo by Pornprom Satrabhaya)
Apisak Tantivorawong, the Minister of Finance, believes that a rate hike at the moment makes little sense. (Photo by Pornprom Satrabhaya)

Raising the policy interest rate at a time when the country's economy remains vulnerable could stall a recovery towards sustained growth, warns Finance Minister Apisak Tantivorawong.

"The Thai economic recovery is on track but is still vulnerable in some areas," he told the Bangkok Post in an exclusive interview. "The economy could lose momentum if any shocks such as political risk or interest rate hikes that add local financial costs are incurred.

"Everything is just a beginning point, we don't want anything to disrupt [the momentum]. We want the economy to become stronger to some extent. Steering the economy is akin to flying a kite -- we must make sure that the kite flies without being agitated, so we don't want to see anything that could hurt confidence."

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