Country’s growth potential declining, says BoT chief

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Bangkok Post 3d ago

Country’s growth potential declining, says BoT chief - Bangkok Post

Quick Summary:

The country’s economic growth potential is expected to hover around the three-percent mark for the next five years, a decline from the average of closer to 3.5% reported in the years before the Covid-19 pandemic, according to Bank of Thailand governor Sethaput Suthiwartnarueput.

Should there be changes in the economic outlook, the central bank is prepared to adjust the rate accordingly, he said.

He said the government’s 500-billion-baht digital wallet scheme may help stimulate the economy in the short term, but it will not strengthen Thailand’s economic potential in the long run.