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Thailand’s Deputy Prime Minister Says Strong Baht Reflects Stable Economy

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BANGKOK – Despite foreign investors fleeing Thailand’s stock market and exports at an all time 4 month low Thailand’s Deputy Prime Minister Somkid Jatusripitak has said the Thai currency’s appreciation is a good indication of the country’s good economic performance and stability.

The deputy premier reassured Thailand’s economic performance during his speech at the Federation of Thai Industries’ board meeting.

He said the foundation of Thai economy remains strong, as indicated by 4.1% economic growth last year and 205 billion US dollar reserve, 8.7 trillion baht stock exchange trading in past 3 quarters which is a 11% growth, and some 800 billion baht gross profit from companies registered with the stock exchange.

He said those figures reflect the robustness of the national economy even during global economic recession, while the continuation of current economic measures by the new government will allow for GDP growth exceeding 4.1%.

He reaffirmed the appreciation of the baht has resulted from the good economic performance, stability and orderliness, and interests of investors.

By Tewit Kemtong