projected growth
rate is at 3.8 percent of GDP lower than
the beginning of the year at 4 per cent which the
expected
growth rate of 0.8 per cent.
Finance Ministry Sommai Phasee has urged the Bank of
Thailand ‘s Monetary Policy Committee (MPC) to reinforce
the down trend in interest rates by cutting the policy
rate
future to help support weakening economic conditions.
The rate –setting committee is required to continue
reducing
the benchmark interest rate.
The down trend cycle of local interst rate will
stimulate
the export growth because of the baht depreciate.
The central bank must decide whether it appropriate
to lower the policy interest rate futher in the next
meeting
on April 29.
The economic stimulate measure must be implemented
referring to the execution process for the fiscal and
monetary policies.
The Finance Ministry think that the MPC’s decision last
month to cut the
policy interest rate is not enough and
monetary policy should be eased future.
Export are the main pillar of the econmy that will
stimulate
economic ,accounting for 70 per cent of GDP. There will
be
the additional liquidity worth 40 billion baht into the
Village
Fund Scheme for villages with good management that will
accelerated during the year’s dry season into the
economic
system.The first 20 billion baht will drive fron loans,
which the government contributing the other 20 billion
which would boost GDP by estimated 0.15 perce3nt points.
In my opinion,if the interest rate is down at competitive
rate and the baht appreciated can earn it efford,the
value
o export goods will increase and the external revenue
come to stimulate economic and investment in the
country.
But make sure that it low to the level that does not
have the
impact to the export goods because with the high price
imports ,the cost of goods sold will rise and we can not
competitive in the world antmore.
The additional liquidity into the Village Fund Scheme
is a good idea to stimulate expendure and economic
growth.But the process must strickly do to make sure
that
it use wtith the correct objective,make sure that there
will
not be corruption
during the process before the poor citizens
can benefit from it.
If we want to help the poor ,we should help them stand
on
their feet otherwise when they use the money in the
wrong
way( which
usually happen because the poor has few
knowledge and
right information) it will lead them to more
debt with will be ruin them and the public economic in
the future.
Hope everyone can adapt well to every situation.
Best Wish.
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