Finance ministry confident Thai economy can withstand global shocks

BANGKOK, April 11 (TNA) -- The Finance Ministry is confident that the country's solid economic fundamentals can still withstand global shocks, though measures should still be implemented in case of emergency. Finance Permanent Secretary Somchai Sujjapongse said that since the US strike on a Syrian air base, the ministry has been monitoring the situation closely. The United States fired dozens of cruise missiles at a Syrian air base on Friday from which it said a deadly chemical weapons attack had been launched earlier in the week. Mr Somchai said he admitted that there has bee no effect on the Thai economy thus far, as Thai has limited trade relations with Syria, though the effects of the attack on other countries must still be closely watched. Nonetheless, he said that there is psychological effect from the situation, but the foundation of the Thai economy is still strong which would help the country handle external factors effectively. He added that Thailand's stability remained strong, as reflected in the Thai currency which continued to strengthen. The price of oil, in the other hand, must be monitored still, as it is on the verge of rising, said Mr Somchai. Director of the Fiscal Policy Office (FPO) Krisda Chinavicharana said the finance ministry has been following terrorism situations and war in other countries closely, while the government has prepared measures to to handle any effects caused by such situation in the world, to ensure that the domestic economy would not be impacted by them. He added that Thailand has been through various crises and the experiences would help the country get through any tough situation. (TNA)