Thai govt's stimulus measures boost economic growth by 3%

[webfact]

Government’s stimulus measures boost economic growth by 3%

 

   

BANGKOK (NNT) - The government’s Chim Shop Chai (Taste, Shop, Use) campaign has helped boost domestic spending. The Center for Economic and Business Forecasting of the University of the Thai Chamber of Commerce (UTCC) has forecast that the second phase of this campaign will help the Thai economy expand by 3% this year.

 

The Director of the Center for Economic and Business Forecasting, Asst. Prof. Dr. Thanavath Phonvichai, said today that business representatives surveyed by the Thai Chamber of Commerce (TCC) remained concerned about the trade war between China and the US, as it had slowed global economic growth, while Thai exports in August contracted 4%. The business representatives were also concerned with a series of mass protests in Hong Kong. In addition, prices of agricultural products remain low due to the flooding in northeastern Thailand, and farmers had less spending power. The TCC confidence index fell to 46.2 points in September, the ninth consecutive month of contraction. The future confidence index also fell to 48.1 points last month.

 

However, the Thai economy is being supported by several positive factors. One of them is the government’s Chim Shop Chai economic stimulus measure, which has won overwhelming public interest. If the second phase is implemented as expected, the Thai economy will continue to improve. When the national budget is passed by the House of Representatives, budget disbursement should be undertaken immediately to help drive the country’s economic growth. Speaking of the monetary policy, a measure to stabilize the baht’s value should be implemented to support Thai exports and tourism in the fourth quarter. With these contributing factors, the Thai economy should grow by 2.8 to 3.0% this year.

 

-- © Copyright NNT 2019-10-15

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[madmitch]

So the Government gives people free money to spend and they spend it. How the hell can that be seen as boosting the economy?

[RotBenz8888]

29 minutes ago, webfact said:

forecast that the second phase of this campaign will help the Thai economy expand by 3% this year.

With the Baht being a prestige thing they are very very reluctant to do anything about, the economy might just shrink 3%. But what a hell, its only for them to deny everything as usual.

[Snuller21]

Give 1000 Baht to poor people, great support until the money is spend, then NO interest anymore, and now the money are spend, so what, and how should that boost the Thai Economy? Get a National Economist employed. One that know a little bit about Thai Economy.

 

[johng]

A "forecast" that it will "help"....as in not yet happened maybe never will !

[RichardColeman]

 

1 hour ago, webfact said:

With these contributing factors, the Thai economy should grow by 2.8 to 3.0% this year.

If Thailand grows at 3% with falling tourists and no exports and a military junta, then the Thai financial advisers should be employed by ALL countries in the world.

[seajae]

and can we actually believe this 3% figure or is it a another face saving one once again like all the other figures they make up when things are going down the gurgler

Edited October 15, 2019 by seajae

[bkk6060]

1 hour ago, madmitch said:

So the Government gives people free money to spend and they spend it. How the hell can that be seen as boosting the economy?

The people get the money and spend it on goods, services, etc. thus returning the funds helping the overall economy.  

Spending helps the economy.

A basic economic principal..

[Yinn]

5 minutes ago, bkk6060 said:

The people get the money and spend it on goods, services, etc. thus returning the funds helping the overall economy.  

Spending helps the economy.

A basic economic principal..

And then people who get the money, spend it again at the other place. Then the other place spend it the other place again. And again. And again.........ๆ everyone happy. 

[kirbi53]

But still just another free hand out 

I have been waiting for the government to do this after the so called election. 

They should have done it just after the election to say thank you

5555 555

[Cadbury]

While all other economic indicators fall around them these morons think that some nutty professor type harebrained scheme of "eat, shop and spend" is going to save the economy. Delusional fools!

[trainman34014]

More numbers pulled from the <deleted> Bin !

[inactiveposter]

Wow, 3% increase, maybe they can buy some more new toys.

[StayinThailand2much]

2 hours ago, johng said:

A "forecast" that it will "help"....as in not yet happened maybe never will !

Wishful thinking, or the usual making up of fake numbers??

[StayinThailand2much]

1 hour ago, Yinn said:

And then people who get the money, spend it again at the other place. Then the other place spend it the other place again. And again. And again.........ๆ everyone happy. 

Considering that, according to recent news items, people spent most of it in supermarkets and malls, wait for the downturn later on as people didn't buy anything 'extra', but just 'earlier'...

[BuckBee]

when you got give your own civilians money to spend into the economy you must know in reality there is no real growth lol .

Last 5yrs has put a massive downturn on tourism and business/exports .

without massive change on baht, export and real needed projects like water management they going sink further ...

[BobbyL]

The source of this post tells you everything you need to know. 

 

A North Korea - esque press release. 

[legend49]

13 hours ago, seajae said:

and can we actually believe this 3% figure or is it a another face saving one once again like all the other figures they make up when things are going down the gurgler

TAT rebadged ?

[30la]

16 hours ago, webfact said:

will help the Thai economy expand by 3% this year.

Dreamers!!!

[hotchilli]

19 hours ago, webfact said:

The Center for Economic and Business Forecasting of the University of the Thai Chamber of Commerce (UTCC) has forecast that the second phase of this campaign will help the Thai economy expand by 3% this year

 

[brain150]

It is called propaganda <deleted> !!!

They are obviously pretty desperate ????

[jvs]

The people who are supposed to get this money(the poor)are not getting any of it.

It is given to people who have cars and houses already,they can drive to the place where they (have)to spend their money.

Poor people do not even have bank accounts,let alone the wheels to drive them to shopping malls.

I see it as a plan to push more money in one direction.

How do you see this Asian person?

Edited October 16, 2019 by jvs

[FarFlungFalang]

Thai govt's stimulus measures boost economic growth by 3%

 

What's with the fake headline I hope we're not stooping so low as to put up BS headlines just for click bait as nowhere in the article does it mention the economy having been boosted by 3% due to econonomic stimulus.

[Cake Monster]

This has to be the most productive and fastest acting "Stimulus Package "ever put forward by ANY Government in the World.

Not only has the scheme been running just about a Month, but already figures have been collected, correlated and published as to the schemes affect on the Economy.

Really Amazing Thailand

 

[FarFlungFalang]

25 minutes ago, Cake Monster said:

This has to be the most productive and fastest acting "Stimulus Package "ever put forward by ANY Government in the World.

Not only has the scheme been running just about a Month, but already figures have been collected, correlated and published as to the schemes affect on the Economy.

Really Amazing Thailand

 

They only started admitting the economy might be having problems 2 weeks ago,and now it's all fixed.

[Srikcir]

Government stimulus packages are not free money.

It doesn't come from wealthy foreign nations investing in Thailand because of substantial tax benefits.

It doesn't come from Thailand's wealthy persons nor large corporations.

It comes from the Thai middle-class who themselves are struggling in a faltering economy.

These "handouts" to the low-income class just perpetuates their dependence on a gratuitous government that in effect reinforces social inequality.

Know your place and loyalty if you want more.