BoT concerns about populist policies

The Bank of Thailand (BoT) governor has expressed his concern over populist policies presented by many political parties as part of their campaigns for the upcoming general election.

BoT Governor Dr Prasarn Trairatvorakul admitted that many policies of political parties are aimed at higher voters’ support in the 3 July election and may affect the national inflation as well as drive the public debt up if they are really carried out.

Dr Prasarn noted that the inflation and public debt issues will possibly impact on the overall economic stability of the kingdom.

Asked which of the two issues is more worrying and will affect the economic condition more seriously, the governor answered that both are connected to each other and should affect the economy equally. He said, however, the matter should not be of great concern as no populist policies will be implemented until a new government announces its national administrative plan.