PM, council of economic ministers to find ways of rebooting country

By THE NATION

 

Prime Minster Prayut Chan-o-cha has scheduled a meeting with the council of economic ministers on July 10 to discuss the country’s economic situation.

 

Prime Minister Prayut Chan-o-cha has called a meeting with the council of economic ministers on July 10 to discuss the state of Thailand’s economy, the council’s secretary-general Kobsak Pootrakul said on Thursday (July 2).

 

The meeting will also seek measures to assist small and medium-sized enterprises from the impact of the Covid-19 outbreak, he added.

 

Meanwhile, Deputy Prime Minister Somkid Jatusripitak on Thursday assigned the Revenue Department and the Fiscal Policy Office to come up with measures to encourage community-level tourism and woo big spenders. The measures should be ready by mid this month, he added.

 

Somkid has also asked the central bank to widen the opportunity for businesses to take bank loans.

 

Meanwhile, Finance Minister Uttama Savanayana said his ministry was thinking about asking the Thai Credit Guarantee Corporation to develop a credit guarantee project to help small businesses. This measure is expected to be ready in two weeks.

 

The Joint Standing Committee on Commerce, Industry and Banking revised its forecast for Thailand’s economic growth on Wednesday, bringing it down from between -3 and -5 per cent to between -5 and -8 per cent.

 

The Bank of Thailand has also recently said that the country’s economy this year will contract 8.1 per cent, worst ever, because the Covid-19 crisis has had a greater impact on both the Kingdom’s and global economy.

 

Thanavath Phonvichai, president of the University of the Thai Chamber of Commerce (UTCC), expects Thai gross domestic product (GDP) to show a 10-15 per cent contraction in the second quarter of this year, the period of lockdown when the economy felt the full impact of Covid-19.

 

He forecasts that the spending level of Thais will return to normal spending in a year's time.

 

According to the university's Economic and Business Forecasting survey, the consumer confidence index rose to 49.2 from the previous month's score of 48.2. The rise coincided with phases 3 and 4 of lockdown easing.

 

The survey was conducted on 2,241 participants.

 

Positive factors affecting the results were the government's relaxation of lockdown restrictions and launch of measures to ease burdens on consumers and businesses, Thanavath added.

 

Negative factors included public concern over the outbreak and weakened economy as well as the state of emergency extension.

 

People were also worried over the renewed trade war between the US and China, which threatens Thai exports.

 

Source: https://www.nationthailand.com/business/30390682

 

-- © Copyright The Nation Thailand 2020-07-03

 

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28 minutes ago, webfact said:

council of economic ministers to find ways of rebooting country

re or under .?

 

Edited July 2, 20206 yr by Justgrazing
Long pic'

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Edited July 2, 20206 yr by Justgrazing
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They ran the ship called Thailand aground, and now this same lot is trying to get it back in the water. Now that's hilarious.  If they had a reboot whatever happened to Thailand 4.0. Start thinking about the bigger picture and get the country reopened.  Put safety and security first, but relax some of the archaic rules in place on foreigners.  Downsize your government, get your fingers out if everyone's pockets, and unrestrict the ability for free trade. Next time do not implode and tank your own economy because of greed and corruption, maybe that might help.  This country believes it is a super power, if it wants to be one it needs to start thinking like one and moved forward not backwards 

3 hours ago, webfact said:

PM, council of economic ministers to find ways of rebooting country

Well they were very succesfull in choking the country, the economy in particular.

Unfortunately there is  doubt if they have the ability to "reboot"it. May be just their own economy.

I suggest the PM all of his Junta entourage  all announce they are quitting and Army going back to the barracks. Appoint the previous FFP leader as interim PM and hold elections by August 1, 2020.

 

Perhaps to dramatic of a change, but would work. lol

Maybe they should setup a committee about a commtittee to setup a committee to look into it.

16 minutes ago, tribalfusion001 said:

Maybe they should setup a committee about a commtittee to setup a committee to look into it.

Funded by the committee who thought  about the committee for the committee 

Thank you Khun Prayut Chan O Cha for your exceptional work and efforts in getting Thailands economy back up and running again. Tourism obviously needs a good kick start to ensure jobs growth and pre-covid19 conditions are returned. Let's hope there are good strategic paths put in place that will assist folks & businesses in getting up again.

Khun Prayut will win this war against COVID-19 and reboot Thailand and it's economy as needed.

When you need a good laugh a Government supporter rolls on in to the rescue. TAT should be able to also help since they are coming clean about double pricing.

9 minutes ago, steven100 said:

Thank you Khun Prayut Chan O Cha for your exceptional work and efforts in getting Thailands economy back up and running again. Tourism obviously needs a good kick start to ensure jobs growth and pre-covid19 conditions are returned. Let's hope there are good strategic paths put in place that will assist folks & businesses in getting up again.

Khun Prayut will win this war against COVID-19 and reboot Thailand and it's economy as needed.

Well, the economy was in the doldrums before covid, so we can only assume the same man in charge (he's not in charge) will be able to fix it after a pandemic. Especially if you look at this like it's a war (he's never ever been in a war).

 

It's all looking good from here.........

 

 

7 minutes ago, rkidlad said:

Well, the economy was in the doldrums before covid, so we can only assume the same man in charge (he's not in charge) will be able to fix it after a pandemic. Especially if you look at this like it's a war (he's never ever been in a war).

 

It's all looking good from here.........

 

 

I promise its 100% under control.....

1 hour ago, sweatalot said:

Well they were very succesfull in choking the country, the economy in particular.

Unfortunately there is  doubt if they have the ability to "reboot"it. May be just their own economy.

I think the translation was possibly wrong. It was not reboot at all, it was meant to be "jack boot"

5 hours ago, webfact said:

Prime Minister Prayut Chan-o-cha has called a meeting with the council of economic ministers on July 10 to discuss the state of Thailand’s economy, the council’s secretary-general Kobsak Pootrakul said on Thursday

Love to be a fly on the wall foe that discussion... I wonder who has the backbone to speak the truth?

6 hours ago, webfact said:

PM, council of economic ministers to find ways of rebooting country

would make a change from "booting"

43 minutes ago, hotchilli said:

Love to be a fly on the wall foe that discussion... I wonder who has the backbone to speak the truth?

only on TVF - that's why we are all filthy farangs - they hate it

2 hours ago, tribalfusion001 said:

Maybe they should setup a committee about a commtittee to setup a committee to look into it.

Prayut will just order it to happen with his special power then continue wondering why it didn't happen even though he thinks he is still the supreme commander of everything

Figure out a way to reboot the economy without any tourist. Brilliant. 

"Rebooting" the economy, huh?

 

Thailand is not a machine that can be switched off, then switched on again, and everything will be back to normal.

 

Some thinking outside the box is needed, but unfortunately our leaders are not renowned for that ability. Rather, it's "wash, rinse, repeat".

 

When I read that they want to "encourage community level tourism and woo big spenders" I already know where this is going. Nothing has been learned, the opportunity for a fresh start after the crisis has been wasted, and it's all "same old" over again.

 

But I guess that happens when ministers are solely selected by how much they lick "boot" rather than their actual expertise in their respective portfolios. 

Why does the Prime Minister of Thailand who is retired from the military continue to wear military uniform (especially when issuing directives)?

6 minutes ago, bloodyholly said:

Why does the Prime Minister of Thailand who is retired from the military continue to wear military uniform (especially when issuing directives)?

It's a civil service uniform, not a military one.

6 minutes ago, bloodyholly said:

Why does the Prime Minister of Thailand who is retired from the military continue to wear military uniform (especially when issuing directives)?

It's not a military uniform he is wearing

it's a civil uniform, every civil servant in Thailand have one

even the teachers have this uniform

https://commons.wikimedia.org/wiki/Category:Thai_civil_service_working_uniforms

 

2 minutes ago, kingofthemountain said:

It's not a military uniform he is wearing

it's a civil uniform, every civil servant in Thailand have one

even the teachers have this uniform

https://commons.wikimedia.org/wiki/Category:Thai_civil_service_working_uniforms

 

Thanks for that, I wouldn’t have even guessed that Civil Service uniforms would have its Wiki page.

Agenda Item 1.  Remove the ridiculous unaffordable Insurance requirements for foreigners.

'Reform' and 'Reboot'  are words with similar meanings but he has totally failed on his promises of 'Reform' in every sector and he will again, without doubt, fail to 'Reboot' the Economy.   His grip of National Mathematics is no better than the poor girl behind the counter of your local 7-Eleven who needs a calculator to add 2+2 when the Till stops working it our for her !

1 hour ago, kingofthemountain said:

It's not a military uniform he is wearing

it's a civil uniform, every civil servant in Thailand have one

even the teachers have this uniform

https://commons.wikimedia.org/wiki/Category:Thai_civil_service_working_uniforms

 

IIRC it also comes in white.

5 minutes ago, billd766 said:

IIRC it also comes in white.

That must be for the virgins to wear......

9 hours ago, webfact said:

Prime Minister Prayut Chan-o-cha has called a meeting with the council of economic ministers on July 10 to discuss the state of Thailand’s economy

 

5 hours ago, steven100 said:

Thank you Khun Prayut Chan O Cha for your exceptional work and efforts in getting Thailands economy back up and running again. Tourism obviously needs a good kick start to ensure jobs growth and pre-covid19 conditions are returned. Let's hope there are good strategic paths put in place that will assist folks & businesses in getting up again.

Khun Prayut will win this war against COVID-19 and reboot Thailand and it's economy as needed.

Have you started your drinking early today Steven? ????

2 hours ago, bloodyholly said:

Why does the Prime Minister of Thailand who is retired from the military continue to wear military uniform (especially when issuing directives)?

Come on now, how long have you been here? Surely you know about Thais and their strong affliction to uniforms.