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Thailand’s baht forecasted to strengthen, spurring economic growth

Thailand's baht forecasted to strengthen, spurring economic growth
© Reuters.

Economic strategists anticipate a potential resurgence of Thailand’s national currency, the baht, driven by recent growth initiatives announced by Prime Minister Srettha Thavisin. According to predictions by Ebury and Societe Generale (OTC:) SA on Monday, the baht is expected to strengthen by over 5% and reach 34 per dollar by the end of 2023.

A stronger baht is predicted to have a positive impact on Thailand’s economy. Krungsri Securities Co. suggested on Monday that a stable baht would bolster sovereign debt and alleviate strain on domestic stocks. The measures introduced by the newly appointed Prime Minister are expected to stimulate this growth, leading to an overall economic uplift.

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