BOT senior director says boosting liquidity essential for economic recovery
The Bank of Thailand is revising its forecast of the country’s gross domestic product (GDP) this year, which will be announced officially on June 24, said the central bank’s senior director, Don Nakornthab.
Don said the government’s remedial measures to soften the impact of Covid-19 have worked well in combating the liquidity shortage in the economic system.
He said that the next step after the remedial phase is the recovery phase.
The Senate on June 2 approved emergency decrees for economic stimulus packages worth Bt1.9 trillion. Out of that total, Bt400 billion is earmarked for strengthening the grassroots economy, which is considered a main engine of recovery from the fallout of Covid-19.
The National Social and Economic Development Council recently revealed that state agencies have proposed projects worth Bt590 billion to help boost the grassroots economy.
Don said that Thailand will maintain its relaxed monetary policy in order to support the economic revival. He added that the key to bolstering the economy in this crisis was to boost liquidity in the business system.