PM predicts economy will shrink less than 10% in 2020

By The Nation

 

PM Prayut Chan-o-cha (File photo)

 

Prime Minister General Prayut Chan-o-cha has predicted the Thai economy will contract less than 10 per cent this year, thanks to its strong economic fundamentals and effective handling of the Covid-19 outbreak.

 

He made the prediction during a speech on the economy at an event hosted by the Bangkok Post to celebrate its 74th anniversary on August 6.

 

He added that the economy grew 1 per cent in 2014 after he assumed the premiership in August that year, rising to 3.1 per cent in 2015 and 3.4 per cent in 2016.

 

The growth trend had continued until this year when the economy was brought to its knees by the outbreak, said the premier.

 

The government has launched a series of relief measures to help businesses and people survive the crisis, he added.

 

Source: https://www.nationthailand.com/business/30392560

 

-- © Copyright The Nation Thailand 2020-08-07

 

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2 hours ago, webfact said:

He made the prediction during a speech on the economy at an event hosted by the Bangkok Post

On what grounds? With what knowledge? What qualifications does this man have to make such a prediction?

Guess work at best!

Edited August 6, 20205 yr by Matzzon

So the financial expert has spoken????.

Ahh...good news. He went to see the fortune teller!

4 hours ago, webfact said:

He added that the economy grew 1 per cent in 2014 after he assumed the premiership in August that year, rising to 3.1 per cent in 2015 and 3.4 per cent in 2016.

He forgot to mention that in 2012 the economy grew 6.5% and in 2013 it grew by 2.5%. 

 

Seems poor old Yingluck was able to grow the economy more in two years than he has been able to in six. 

 

I appreciate his prediction of less than 10%, however I would have appreciated it even more if he added the caveat that he would take full responsibility of it exceeds his prediction, and would show his responsibility by leaving office. Otherwise these are just meaningless words.

Now that's funny.

As a comparison does anyone have any links to what the predicted GDP would be for other countries ?

2 hours ago, Matzzon said:

What qualifications does this man have to make such a prediction?

PM's economy prediction expert:

1 ribbit equals 1%

 

There's a prediction in here somewhere...

 

Edited August 7, 20205 yr by BobBKK

..........and I predict there will be a free and fair democratic general election in the coming months! ???? 

the captain has steered the ship on the right path during the crisis. thailand has been a bright beacon to the world in fighting the wuwu. with the PM planting seeds of hope and headed out to the open sea there is no financial storm thailand can't overcome. 

 

ahoy matey !!

If tourism is 15% of GDP and it declines 80%, then it's already greater than 10%. 

 

Throw in declining exports and you could be at 15% decline.

 

I'll take that bet.

1 minute ago, mr mr said:

headed out to the open sea 

Someone needs to keep a WATCH out  for Icebergs. ????

42 minutes ago, jonclark said:

He forgot to mention that in 2012 the economy grew 6.5% and in 2013 it grew by 2.5%.

Seems poor old Yingluck was able to grow the economy more in two years than he has been able to in six. 

Imagine what could have been achieved if democratic rule was respected and mafia godfathers had not colluded with military generals to steal the country?

 

However the rot set in back in much earlier in 2005 and Thailand is still paying the price for not following democratic processes. 

 

I did say at the time the Yellow Shirts would set Thailand back politically and economically decades, and we are still paying the price for Sonthi's actions. 

13 minutes ago, mr mr said:

the captain has steered the ship on the right path during the crisis. thailand has been a bright beacon to the world in fighting the wuwu. with the PM planting seeds of hope and headed out to the open sea there is no financial storm thailand can't overcome. 

 

ahoy matey !!

You must be a mole from his regime cabinet.

And Pinocchio the Thai Nostradamus has spoken.

17 minutes ago, mr mr said:

the captain has steered the ship on the right path during the crisis. thailand has been a bright beacon to the world in fighting the wuwu. with the PM planting seeds of hope and headed out to the open sea there is no financial storm thailand can't overcome. 

 

ahoy matey !!

stay off the Rum Capt Pugwash 

18 minutes ago, DLock said:

If tourism is 15% of GDP and it declines 80%, then it's already greater than 10%. 

 

Throw in declining exports and you could be at 15% decline.

 

I'll take that bet.

And also the 50% drop in agriculture,

seems to be a few drunken sailors in here today. 

5 hours ago, webfact said:

PM predicts economy will shrink less than 10% in 2020

The memo has gone out to "massage the figures" so Thais don't start to panic and international markets don't react.

Thanks to its strong economic fundamentals and effective handling of the Covid-19 outbreak? 

Well, 18% of the GDP; the complete absence of dirty farangs dropped that to a meagre 5%-6%, generated by the locals. 

Export is another nosedive and the strong Thai Baht also had counterproductive effects. 

Question is: which crystal balls are used down at the government house these days? 

A post dragging Mr Trump into the topic has been removed

5 hours ago, webfact said:

Prime Minister General Prayut Chan-o-cha has predicted the Thai economy will contract less than 10 per cent this year, thanks to its strong economic fundamentals and effective handling of the Covid-19 outbreak.

I guess it is Thai Math's again. Another pat on the back for those rulers who live in a bubble. How many have lost their jobs?

Less than 10%?  Where can I place my bet against this?  Easy money!

1 minute ago, Isaan sailor said:

Less than 10%?  Where can I place my bet against this?  Easy money!

hahahahaha are you sure ? TIT

 

i'll take that bet. 

5 hours ago, webfact said:

He added that the economy grew 1 per cent in 2014 after he assumed the premiership in August that year, rising to 3.1 per cent in 2015 and 3.4 per cent in 2016.

Sorry oh magnificent one, you took the country by force in 2014.   

 

Taking credit for the Thai wealthy who increased their wealth while he did nothing for the average Thai, who has lousy job prospects because of him.  The job market was weak before the virus.  Expat jobs there are gone.  Nothing to be particularly proud of coming form cha cha.   

10 hours ago, Matzzon said:

On what grounds? With what knowledge? What qualifications does this man have to make such a prediction?

Guess work at best!

He knows all

He sees all

But does f*** a** unless it,s in his or his masters interests

Never bet against the house.  

Sounds like hes gearing up for an announcement of more submarines, helicopters and other toys to suppress the teaming impoverished masses.