Thailand’s Prime Minister Srettha Thavisin recently called on the country’s four largest lenders to lower interest rates in order to support small businesses and stimulate economic growth. He highlighted the vulnerability of SMEs, which are struggling with high interest rates, and urged banks to consider reducing them.
Thavisin emphasized the importance of supporting businesses during these challenging times, given their crucial role in the country’s economy. The four largest lenders in Thailand are Bangkok Bank, Kasikornbank, Krungthaibank, and SCBX. These institutions have a significant impact on the country’s financial stability and can play a vital role in boosting the economy by reducing interest rates for small businesses.
The current global pandemic has put businesses under unprecedented challenges, making it difficult for them to access much-needed capital at affordable rates. Lowering interest rates can help alleviate some of these burdens and enable businesses to navigate the current economic landscape more effectively. By working together with financial institutions, the government aims to stimulate economic activity and support businesses as they work towards recovery.
In conclusion, Thavisin’s call for lower interest rates from Thailand’s largest lenders is an important step towards revitalizing the economy and supporting small businesses. By addressing the challenges faced by SMEs and other vulnerable groups, the government aims to foster a more resilient and sustainable economic environment for all stakeholders.
