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Bloomberg
Thailand’s government is ready to take further action to support an economy growing at its slowest pace in nearly five years, and sees room for further interest-rate cuts, the finance minister said.
Weeks after passing a stimulus program worth more than $10 billion, the government still has the fiscal space to do more, Finance Minister Uttama Savanayana said on Wednesday in a Bloomberg
Television interview in Bangkok.
“The government deems it very critical that we act in a timely manner, in a convincing manner,†he said, adding the leadership would be ‘very prudent’ about any moves. Thailand’s export-reliant economy has slowed sharply this year, hit by the US-China trade war and a surging currency. The government’s fiscal package came a few days after a surprise Bank of Thailand interest-rate cut that did little to dent the baht.