Former Finance Minister warns Govt against lowering Thai baht

Former Finance Minister Korn Chatikavanij has indicated that the national economy would be affected if the baht value is lowered by the government in favor of Thai exports.

Mr. Korn, also a Democrat MP, warned the government that lowering the value of the Thai currency would do more harm than good to the overall economy of the country. The move, spearheaded by incumbent Finance Minister Kittiratt Na Ranong, is seen by Mr. Korn as beyond the responsibility of the Finance Ministry. He advised that it must be carried out with extra caution.

The former Finance Minister also said the impact of volatile interest rate fluctuations has prompted product prices to rise, adding that if the Thai baht becomes cheaper in comparison to other currencies, it would have a negative impact on the purchase of fuel from overseas. Mr. Korn thus urged Mr. Kittiratt to pay more attention to the cost of living for Thai people than anything else at this moment.

Source: http://thainews.prd.go.th/en/news.php?id=255503270013

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