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UTCC favours BOT's measures

Thanawat Phonvichai, director of the University of Thai Chamber of Commerce's Business and Economic Forecast Centre, supported the Bank of Thailand's decision to follow three business associations' proposals to tackle the foreign exchange problem.

He said that the 7 measures will tackle the problem at its root, as it would discourage capital inflows. while exporters' dollar holding period is lengthened, that would reduce dollar selling. Meanwhile, the government's policy to rush state enterprises to refinance their foreign loans would also help.

"Fixing the baht problems need long-term measures as Thailand's economy will remain driven by the export sector in the next 2-3 years," Thanawat said.

- The Nation

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UTCC favours BOT's measures

Thanawat Phonvichai, director of the University of Thai Chamber of Commerce's Business and Economic Forecast Centre, supported the Bank of Thailand's decision to follow three business associations' proposals to tackle the foreign exchange problem.

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