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Economists and exporters agree strong Baht harms Thai economy

11 Sept 04:51 Key points summarised by AI

A strong Thai Baht significantly increases the cost of Thai exports and tourism, making them less competitive internationally, despite reducing oil import expenses.
Economists emphasize that the economic losses from diminished exports and tourism revenue far outweigh the benefits of cheaper oil imports.
The Baht's appreciation is driven by a weakening US dollar, increased capital inflows into emerging markets, the Bank of Thailand's decision to maintain its base rate, and rising global gold prices.
Exporters, particularly in the rice sector, report substantial negative impacts on their competitiveness and anticipate reduced export volumes due to the strong currency.
Experts forecast continued Baht strengthening, which may lead to calls for government intervention to stabilize the currency and mitigate further economic damage.

Today 14:58 Key points summarised by AI

Thailand's government will launch the "Chainat-Pasak-Gulf" water diversion canal project in fiscal year 2027, a seven-year mega-infrastructure initiative.
This permanent structural solution aims to mitigate recurrent central plains flooding by diverting water from the Chao Phraya River directly into the Gulf of Thailand, significantly reducing flow to major cities like Ayutthaya and Bangkok.
Prime Minister Anutin Charnvirakul justifies the long-term investment as a means to reduce future damages and fiscal burdens, contrasting it with the 40-50 billion baht spent annually on short-term flood relief.
Concurrently, the Prime Minister instructed officials to expand drainage capacity into the Tha Chin River and swiftly remove water hyacinths to improve immediate flood management.