The slowdown in GDP figures is due to delayed and reduced public spending, suggested Nonarit Bisonyabut, a TDRI researcher.
He believes Thailand's economic problems are concentrated in certain sectors and comprehensive measures such as issuing a 10,000 baht digital wallet or lower interest rates would not help much.
“I personally think they will help, but not very effectively. They scratch where it doesn't itch. With a lower interest rate you haven’t solved the problem, you’ve just slowed it down.”
When comments were released by NESDC Secretary General Danucha Pichainant calling on the BOT to cut interest rates, he insisted he was not violating the central bank's independence.
“The Prime Minister did not pressure me to come out and say what I said. I just saw the numbers and thought the BOT should consider other measures.”
He declined to comment on whether the MPC should call a special meeting, but said rising household debt should be noted by the BOT.
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