Cabinet on guard amid economic worries

By The Nation

 

Prayut

 

Prime Minister Prayut Chan-o-cha on Tuesday instructed Cabinet members tasked with economic affairs to carefully monitor the global economic situation.

 

Deputy Prime Minister Somkid Jatusripitak meanwhile defended his decision to have a joint committee established with representation from the Finance Ministry, Bank of Thailand (BoT) and Securities and Exchange Commission.

 

Somkid

 

He said he did not intend for the the committee to have undue control over state financial policy beyond its component members’ regular duties.

 

The Commerce Ministry has been instructed to oversee trade and the BoT’s Financial Institutions Policy Committee to keep watch on the baht’s health and the overall economic picture.

 

Somkid will chair an “Economic Cabinet” meeting on August 16 at which Finance Minister Uttama Savanayana is expected to unveil a Bt170-billion stimulus package.

 

Uttama said after Tuesday’s Cabinet meeting that the stimulus package would draw on both regular and extraordinary budgets to guarantee more spending within the Thai economy.

 

Prayut also wants Uttama to analyse economic developments from the first six months of this year, during which the value of exports dropped by 2.8 per cent.

 

Source: https://www.nationthailand.com/news/30374707

 

-- © Copyright The Nation Thailand 2019-08-14

Follow Thaivisa on LINE for breaking Thailand news and visa info

When I grow up, my parents always told me that consecutive pointing at things and people was considered bad behaviour.

Stimulus packages, giving the poor a few shekels after the ruling elites have allowed economic systems to fail by being  lazy, greedy, stupid, disinterested and distracted while counting their own wealth. 

1 hour ago, Matzzon said:

When I grow up, my parents always told me that consecutive pointing at things and people was considered bad behaviour.

In Thailand, pointing is often done to indicate how smart someone is and how much authority he/she has.

16 minutes ago, Fex Bluse said:

In Thailand, pointing is often done to indicate how smart someone is and how much authority he/she has.

whilst actually  knowing nothing at  all, makes it  all the  more comical.

Hopefully someday this shameless evil lot will get their cumupence,

Edited August 13, 20196 yr by mok199

Somkid will chair an economic cabinet, main topic on the agenda..... Whats in it for me.????️‍♀️

 

44 minutes ago, mok199 said:

Hopefully someday this shameless evil lot will get their cumupence,

They will.....when the next shameless evil lot take over!

2 hours ago, Fex Bluse said:

In Thailand, pointing is often done to indicate how smart someone is and how much authority he/she has.

555!!! I thought it was when they were bad and being pointed at by their victims!!????????????????

3 hours ago, webfact said:

Cabinet on guard amid economic worries

What's there to worry about? This is what there is to worry about!

Prayut, the man without any economic qualifications, has appointed himself as the economic genius in charge the financial management of the country. If that's not worrying what else is?

 

Don't just do something. Sit there.

Today must be a worry day as yesterday was a not worried day and tomorrow will be a not worried day and that is how to balance the economy Thai style.

They should stop the government buying toys for the military and the rich Thais spending abroad, and reduce the value of the baht so exports can recover enabling the man in the street to make more money through additional tourism, as this is the only way to open up Thailand once again.

5 hours ago, Matzzon said:

When I grow up, my parents always told me that consecutive pointing at things and people was considered bad behaviour.

He's pointing up to heaven, "god, please give our teflon economy strength".

2 hours ago, Geoffggi said:

They should stop the government buying toys for the military and the rich Thais spending abroad, and reduce the value of the baht so exports can recover enabling the man in the street to make more money through additional tourism, as this is the only way to open up Thailand once again.

Whilst i agree,de-valuing a currency can come with ramifications,look at Trumps fury when China devalued the Yuan,it is very easy to be accused of currency manipulation,i am no expert but i think that can cause problems with organisations such as the world bank,IMF,and suchlike.

7 hours ago, webfact said:

Cabinet on guard amid economic worries

The Cabinet should be under guard amid economic worries.

committee members findings, " we're in the sh1t"

4 hours ago, Geoffggi said:

They should stop the government buying toys for the military and the rich Thais spending abroad, and reduce the value of the baht so exports can recover enabling the man in the street to make more money through additional tourism, as this is the only way to open up Thailand once again.

Nothing wrong with Rich Thais spending money abroad they could be tourist or investors. Same as people come here on vacation or large companies invest here