Somkid sees rosy economic outlook in immediate future

[snoop1130]

Somkid sees rosy economic outlook in immediate future

By The Nation 

 

 

While Thai Deputy Prime Minister Somkid Jatusripitak says he has not been surprised by economic projections recently made by public and private economic houses, he is expressing confidence that once the new government is firmly in place the prime minister will be able to continue implementing the national plans.

 

Opening an exhibition at Bangkok International Trade and Exhibition Centre yesterday, Somkid said that the research agencies’ downward revision of their estimates for the nation’s economic growth was normal as the Thai economy has slowed down on the back of political matters. With the political situation becoming more certain and the government on the eve of formation, the new prime minister will be able to continue driving government policy.

 

The Thai economy has very strong fundamentals and the Stock Exchange of Thailand (SET) Index has continued rising from capital inflows from foreign investors confident in the Thai economy.

 

In the event that the fiscal 2020 budget is delayed, it could affect the disbursement and investment budget in the latter half of this year, said Somkid. There will be a push on executing the government’s previously approved mega projects with a fast disbursement of funds in order to get that money circulating in the Thai economy.

 

Somkid has also asked the private sector to pay attention on adjustments as, based on the IMD World Competitiveness Ranking, Thailand’s private-sector competitiveness ranking did not go up. That reflected the Thai private sector’s need to adjust itself to cope with fast technological changes such as the internet of things and Big Data.

 

With Japanese industry having moved into Industry 5.0, which applies higher technology to enhance production efficiency, Thai private enterprises in several industries are in Japan’s supply chains, Somkid said.

 

If Thai private enterprises could not make adjustments in time, it may be difficult for them to link with Japanese supply chains in the future, he said.

 

Regarding the Pracha Rat project and the state welfare cards, Somkid said that he wanted to see large-sized private enterprises join the project in order to expand its ability to help low-income earners. Large-sized private enterprises will also be able to aid SMEs, which would be a good project, he added.

 

Source: http://www.nationmultimedia.com/detail/Economy/30371889

 

-- © Copyright The Nation 2019-06-27

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[geoffbezoz]

He's avin a laff, an't e

[z42]

What a complete plum. The country is going to go down the toilet while it gets plundered from within by those degenerate hyenas who just muscled / bought their way into parliament.

 

And to be fair if Somkid was referring to his personal economic future being rosy, i'd say his hunch is probably a good one

[kotsak]

They really love to wear these, don't they? ????

 

[mikebell]

Did he work for TAT before his 'promotion to Deputy PM?

[findlay13]

1 hour ago, kotsak said:

They really love to wear these, don't they? ????

 

I was just going to look for an emoji of these .Thanks

Edited June 27, 2019 by findlay13

[ExpatPH]

Not gonna happen, export are down, tourist arrival are down, personal debt record high ...

 

[Cadbury]

10 hours ago, snoop1130 said:

......the prime minister will be able to continue implementing the national plans.

Why is an newly elected "democratic" government beholden to previous plans of a military junta?

All junta policies and plans should be thrown out the window or either discussed by the new government and approved or rejected.

This new government is effectively a quasi military government which has been given a "face" of democracy.

 

[PatOngo]

Things are always rosy when you have a huge deficit! These people are full of it!

[Chang_paarp]

Hang in there! Wasn't there a report just yesterday saying the government was running a deficit? A large deficit, about 276 Billion baht. This does not bode well for economic responsibility.

 

Look here; https://forum.thaivisa.com/topic/1108703-govt-reveals-bt276bn-deficit/?tab=comments#comment-14288795

[PatOngo]

1 hour ago, ExpatPH said:

Not gonna happen, export are down, tourist arrival are down, personal debt record high ...

 

Never mind, everything still sanook!

[BestB]

Makes perfect sense to make such statement 3 days after BOT revised all figures and painted gloom picture.

 

i wonder who I should take more seriously ????

[JAG]

12 hours ago, z42 said:

 

And to be fair if Somkid was referring to his personal economic future being rosy, i'd say his hunch is probably a good one

He may have had the forethought to get out of the "cuddly toy gambling business" whilst he was still in front of the game!

[Eric Loh]

12 hours ago, snoop1130 said:

With the political situation becoming more certain and the government on the eve of formation, the new prime minister will be able to continue driving government policy.

Lots of false statements. The political situation has became more uncertain, the government formation not any nearer in sight and full of conflicted politicians aspiring to be ministers and the Prime Minister is not representing the people and has no vision.  

[lipflipper]

Really, a rosy outlook in the near future??? Is this Bozo drinking his own bath water to say something as idiotic as that?? Obviously he has not even looked at the economic data nor heeded the warnings from the Export section.

Sent from my CMR-AL19 using Thailand Forum - Thaivisa mobile app

[Small Joke]

Every economist and his gerbil has said were heading for an unavoidable crash and depression. The only surprise is that the debt fuelled insanity rages on, creating an even bigger bang when the bubble pops.

Never mind rose tints, he'll need welding glasses once the financial firestorm hits.

[Small Joke]

2 hours ago, Eric Loh said:

Lots of false statements. The political situation has became more uncertain, the government formation not any nearer in sight and full of conflicted politicians aspiring to be ministers and the Prime Minister is not representing the people and has no vision.  

Sounds like most of the world unfortunately. The White House *still* doesn't have a full operational staff. And as for Westminster, and Canberra, God help them.

[sammieuk1]

I see a rosy outlook for him to in the immediate future to how spooky is that????

[Blue bruce]

The watchman talks about fake news. Every day the government gives more FAKE news than any social media. Every day more B.S.

[Srikcir]

9 hours ago, mikebell said:

Did he work for TAT before his 'promotion to Deputy PM?

No.

Worked in part as Minister Commerce and Finance in Thaksin's government before his appointment by the NCPO to DPM. https://en.wikipedia.org/wiki/Somkid_Jatusripitak#Minister_in_Thaksin's_government

It's not his education nor prior experience that has defined him since his appointment as Prayut's DPM bit more likely PM Prayut's vision for national economic policies vs Thaksin's vision.

[Srikcir]

18 hours ago, snoop1130 said:

Somkid sees rosy economic outlook in immediate future

Good to know that Zero Export Growth Rate and Lower growth Rate for tourism predicted for 2019 is good news!

https://forum.thaivisa.com/topic/1108553-thai-central-bank-holds-key-rate-slashes-growth-and-export-outlook-again/?utm_source=newsletter-20190627-0558&utm_medium=email&utm_campaign=news

Put on a happy face
Brush off the clouds and cheer up.

(song-Tony Bennett)

[Redline]

I wonder if I can borrow a pair of his rose colored glasses?  I think someone stole mine, and all I have now are the horrific grey tinted ones