New BOT governor foresees recovering, but imbalanced Thai economy

BANGKOK, November 13 (TNA) - Newly-appointed Bank of Thailand (BOT) Governor Veerathai Santiprabhob foresees that the Thai economy should continue recovering next year, but in an imbalanced manner. Veerathai told journalists on Friday that Thailand's economic recovery should continue in 2016, but its effects might not be distributed. Veerathai explained that people in provincial areas would face drought-related risk factors, which would result in the low prices of their farm products and affect their income. Besides, there could be high household debts to slow down the recovery of the Thai economy. The "young-blood" central bank governor also pointed out that investment and economic stimulus measures introduced by the Thai government should drive ahead national economic growth next year, while domestic tourism, though facing some slowdown in the third quarter of this year, should be another driving force of national economic growth next year due to its high potential. The new BOT governor also warned of fluctuations in the global economy, saying that the United States could raise its key interest rate because of national economic recovery, while Europe and Japan could continue with their easing economic policies and there could also be many risk factors in the immense Chinese economy. (TNA)