Finance Ministry to roll out supporting measures after factory closedowns

 

   

BANGKOK (NNT) - The Minister of Finance has revealed the ministry is ready to introduce measures to support the economy after many factories shut down because of the global economic situation.

 

The Minister of Finance Uttama Saowanayon, spoke today about the closing down of a number of industrial factories, saying that the global economic slowdown has caused a chain reaction affecting the Thai economy, especially small export manufacturers who are severely affected.

 

He said the Ministry of Finance has been devising supporting measures to alleviate the effects, adding that it is still necessary for the government to continue issuing economic stimulation measures as the global economic slowdown will continue.

 

The Bank of Thailand has recently introduced measures to facilitate the outbound cash flow as another way to control the economic situation, which is a mutual effort to help maintain economic performance and minimize negative effects.

 

The Finance Minister said it is still diffficult to forecast economic growth next year, and the Ministry of Finance is closely monitoring the situation and preparing for potential effects.

 

On suggestions from academics seeking tax measures to act as an economic stimulus as in in the United States, he said the Ministry of Finance will have to consider the suitability and compatibility of such measures with the Thai economy and current situation, adding that the Ministry of Finance is open to future consideration as appropriate.

 

-- © Copyright NNT 2019-11-15

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I thought there wasn't any problems with there economy something is happening and it not going to be good but the rich don't care about the poor

1 hour ago, webfact said:

 

 

1 hour ago, webfact said:

The Finance Minister said it is still diffficult to forecast economic growth next year, and the Ministry of Finance is closely monitoring the situation and preparing for potential effects.

Stop buying useless military toys,

you would  have more money in your account

54 minutes ago, ozz1 said:

I thought there wasn't any problems with there economy something is happening and it not going to be good but the rich don't care about the poor

It's been struggling for some time in certain area's and it's doubtful if any measures will help, goes without saying when the US sneezes everyone else gets phenomena , when China says get !!!!! everyone else bends over. 

The cheque is in the mail...

1 hour ago, webfact said:

saying that the global economic slowdown has caused a chain reaction affecting the Thai economy

Pesky foreign economic slowdown = not our  fault........ keep  up the great work, tighten up the rules even  more on everything, make it even more difficult....

1 hour ago, webfact said:

many factories shut down

Rubbish one sided info, there are more new opened factories than closures.

Exactly, but posters don't want to hear that, all they want yet another reason to blame the government for something, anything!

Wait until the really big factories start to close. The giants.

14 minutes ago, saengd said:

Exactly, but posters don't want to hear that, all they want yet another reason to blame the government for something, anything!

Are you replying to post number 7? Who else should people blame them the economy is bad? 

Not to worry. The Thai cake industry is thriving. Thais unable to afford rice are encouraged to eat cake

https://www.pattayamail.com/thailandnews/thai-cake-makers-win-gold-awards-at-uk-cake-international-2019-contest-275477

10 minutes ago, rkidlad said:

Are you replying to post number 7? Who else should people blame them the economy is bad? 

First off, people could look at the reality of how many factories closed this year versus how many have closed in previous years, a news article in a separate thread showed this very nicely in that this year is actually lower than last! The relaity is that there's a high volume of closures and openings here.

 

Second: for people who can't actually get past the headline and understand the problem in more detail, it would help if they understood the impact of the US/China trade wars on the Thai economy and in particular, on Thai exports, the major component of Thai GDP. But it's easier to slam a military government than it is to look at fact, it's also convenient that THB is overly strong which again must be the fault of the government I suppose.

Not another hand out 

They'll have to come up with a trendy name for this one for sure

 

9 minutes ago, saengd said:

First off, people could look at the reality of how many factories closed this year versus how many have closed in previous years, a news article in a separate thread showed this very nicely in that this year is actually lower than last! The relaity is that there's a high volume of closures and openings here.

 

Second: for people who can't actually get past the headline and understand the problem in more detail, it would help if they understood the impact of the US/China trade wars on the Thai economy and in particular, on Thai exports, the major component of Thai GDP. But it's easier to slam a military government than it is to look at fact, it's also convenient that THB is overly strong which again must be the fault of the government I suppose.

How many factories closed in what previous years? Compared to 2000? 2006? 2014? I’m yet to meet any Thais who’ve said the economy is good. Even the Prayut supporters. That’s because it isn’t. 
 

It is easy to slam military governments, yes. Same way as it would be easy to slam a government full of car mechanics or medical professionals. 

2 minutes ago, rkidlad said:

How many factories closed in what previous years? Compared to 2000? 2006? 2014? I’m yet to meet any Thais who’ve said the economy is good. Even the Prayut supporters. That’s because it isn’t. 
 

It is easy to slam military governments, yes. Same way as it would be easy to slam a government full of car mechanics or medical professionals. 

Compared to last year and the year before, the number of employees involved is actually the lowest this year for the past three years! https://www.nationthailand.com/news/30378245

1 minute ago, saengd said:

Compared to last year and the year before!

Yes, the years in which the military were in power. So for a bit of context, how good are the numbers now compared to before 2014?

1 minute ago, rkidlad said:

Yes, the years in which the military were in power. So for a bit of context, how good are the numbers now compared to before 2014?

Knock yourself out and provide the context you seek!

I was told by a reliable source that trough sales were going through the roof

51 minutes ago, ukrules said:

Wait until the really big factories start to close. The giants.

 

Absolutely ;
the car parks of the manufacturers of trucks and light vehicles are completely filled;
the production lines will stop from one day to the next for lack of space to store the vehicles that will come out.

There is no one left to buy them.
Where is the money ? 

9 minutes ago, saengd said:

Knock yourself out and provide the context you seek!

You’re the one making claims you can’t back up. Not me. I’m merely asking questions about the things you say.
 

 

20 minutes ago, rkidlad said:

You’re the one making claims you can’t back up. Not me. I’m merely asking questions about the things you say.
 

 

I don't know what it is you want me to back up as you put it. The article in the OP talks about people being laid off because of the economy and posters are blaming gov. I've shown that factory closures are lower this year than last and the number of employees involved is the lowest in three years hence the story is a non-event yet posters still want to blame gov. I've also said the Thai economy is suffering as a direct result of the trade war between the US and China and as a result of a global slow down, a quick google will confirm that for you. You want me to provide context and compare factory closures this year with those in early 2000 under a non-military gov. and I'm not going there.

41 minutes ago, kirbi53 said:

Not another hand out 

They'll have to come up with a trendy name for this one for sure

 

Money for work stimulus.

14 minutes ago, saengd said:

I've also said the Thai economy is suffering as a direct result of the trade war between the US and China and as a result of a global slow down,

 

forgetting the main cause, the baht too strong that penalizes Thai exports

46 minutes ago, rkidlad said:

Yes, the years in which the military were in power.

You mean presently I thought the military are still in power with a few civilian show pieces that don't even give the illusion of democracy. 

16 minutes ago, saengd said:

I don't know what it is you want me to back up as you put it. The article in the OP talks about people being laid off because of the economy and posters are blaming gov. I've shown that factory closures are lower this year than last and the number of employees involved is the lowest in three years hence the story is a non-event yet posters still want to blame gov. I've also said the Thai economy is suffering as a direct result of the trade war between the US and China and as a result of a global slow down, a quick google will confirm that for you. You want me to provide context and compare factory closures this year with those in early 2000 under a non-military gov. and I'm not going there.

You're not going there because you can't.

 

Sorry, let me get your twisted logic correct. It's okay that there's a high number of factory closures in 2019 because it's not as bad as the recent years before (with the same goverment). But before 2014 things were never this bad (different government). And we aren't allowed to blame the current government because of the US/China trade war. 

 

I guess you could also blame parliament for voting yes to all the unnecessary military hardware they bought. Say what? That wasn't the will of the people, it was the will of a military government? Ehh...........US/China trade war, right? 

 

 

 

 

Thais always like to blame their problems on something or some else.

You could start to fix the problem by devalue the Bhart.

8 minutes ago, Jessi said:

Thais always like to blame their problems on something or some else.

You could start to fix the problem by devalue the Bhart.

And loose face ?

 

Impossible .

This is not very serious in fact, it will explode in not long after we have done much harm to us farang of Europe.
Even Norwegians who are not in the "euro" system suffer.
Explode even stronger than in 1997 because the situation is much worse than 22 years ago, but Thai are like ostriches.

1 hour ago, rkidlad said:

Are you replying to post number 7? Who else should people blame them the economy is bad? 

Have you had no economic schooling ? The world is connected and iff the world economy is bad it infleunces all counrty economies. That is not something a government has much influence on.

 

Sure this goberment is <deleted> but the blame is no TOTALLY on them the world economy plays a large part.

 

Mauny posters seem to think its ONLY the fault of the currnent government while this is untrue.

I like the last paragraph where they will "...consider the suitability and compatibility of such measures...".  They are very good at forming lunch committees to consider most anything and everything.  Thoughts that will last a lunchtime.

15 minutes ago, robblok said:

Have you had no economic schooling ? The world is connected and iff the world economy is bad it infleunces all counrty economies. That is not something a government has much influence on.

 

Sure this goberment is <deleted> but the blame is no TOTALLY on them the world economy plays a large part.

 

Mauny posters seem to think its ONLY the fault of the currnent government while this is untrue.

Can you not read? The poster was saying it isn’t the government’s fault. I didn’t say it was ‘all’ the government’s fault. Don’t take my words out of context. I asked, if you can’t blame them then who can you blame? As in, if this poster thinks the government shouldn’t take any blame, then what’s the point in even having a government?

 

And when a government buys Ridiculously expensive and frivolous military equipment in a time of economic woe, it’s more than fair that people take it out on them.