Finance Minister: Thai Economy Passes Worst of Coronavirus Crisis

[snoop1130]

Finance Minister: Thai Economy Passes Worst of Coronavirus Crisis

 

 

BANGKOK, August 26 (TNA) – Thai Finance Minister Predee Daochai has said the country’s economy has passed the worst point of the COVID-19 crisis. 

 

Speaking in a seminar via teleconference at Thailand Focus 2020 on Wednesday, the Finance Minister said that the Thai country experienced the worst COVID-19 impact in the second quarter when the GDP contracted 12.2 percent.

 

He told the seminar participated by domestic and foreign investors that Thailand’s economy had now gradually recovered, on pace for 4-5 percent growth next year.

 

Full Story: https://tna.mcot.net/english-news-519886

 

-- © Copyright TNA 2020-08-27

 

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[johng]

Yes pull the other leg it's got bells on.

[ThailandRyan]

Well that says it all.  Looks like the economy is on the upswing, unemployment will be rapidly decimated, and a return to Happiness has been accomplished.  Good Job I say, and shake me so I can wake up from this dream I must be stuck in where the world is apparently seen through rose colored glasses.

[Mavideol]

6 minutes ago, snoop1130 said:

when the GDP contracted 12.2 percent.

 

6 minutes ago, snoop1130 said:

on pace for 4-5 percent growth next year.

if the numbers he indicated are correct (I doubt) still a contraction of around 7-8 percent.... wishful thinking

[ThailandRyan]

I think he has been taking the p-i-s-s

[trainman34014]

Another Thai 'Expert' that lives in Cloud Cuckoo Land !

[soalbundy]

A lot can happen between now and next year. It's always next year with you chaps, probably because you don't expect to last that long.

[ThailandRyan]

43 minutes ago, soalbundy said:

A lot can happen between now and next year. It's always next year with you chaps, probably because you don't expect to last that long.

4 months left in 2020, so please let us know how the economy will be rescued and the world according to Thailand will be just fine and right as rain by the end of the year, with no unemployment and full tourism.  What, yeah not gonna happen

[hotchilli]

15 hours ago, snoop1130 said:

Thai Finance Minister Predee Daochai has said the country’s economy has passed the worst point of the COVID-19 crisis. 

The Covid crisis maybe... but not everything is about Covid.

[tomacht8]

Thai Finance Minister Predee Daochai has said the country’s economy has passed the worst point of the COVID-19 crisis. 

 

Hard to say, but I don't think so. The economic effects of April to August are still to come. Tourism is dead, the borders are closed, millions without jobs, savings and credit lines are exhausted. Who still has the money to buy a new car, refrigerator, TV, computer, condo, motorcycle, vacation trip, clothes, etc.

For many, the money is just enough to buy food. It is not just the case that the income from tourism is lost, but as a result the lower purchasing power will affects all sectors. 

[Isaan sailor]

We may have hit bottom, but it’s still a long, long way to go.

[Redline]

Cool, COVID is over~hurry get out the news!

All Thais should have vaccinations by year end

[vivananahuahin]

We need to give him time and credit and he will realise that the worst will be for next year,the tunnel is still very long and full of pitfalls,the real obstacle course.

 

[scammed]

in that he is wrong, the downward spiral continues unabated

and the coffers will dry out, lets hear what he go to say after another 1/2 year

of senseless lock down

Edited August 28, 2020 by scammed

[sammieuk1]

Extinguisher for the minister his pants are on fire ????

[connda]

On 8/27/2020 at 6:06 PM, snoop1130 said:

Thai Finance Minister Predee Daochai has said the country’s economy has passed the worst point of the COVID-19 crisis. 

Somebody's has donned their rose-tinted non-reality goggles or has been smoking whacky-weed.  The rich and the wealthy who are actually making money hand-over-fist during the 'crisis' telling the commoners that everything is OK.  It is.  For the wealthy.  Average people are shafted and will be suffering for the next year to two years if not longer. 

 

[Zikomat]

Yeah, 2 million tourists are on their way to Phuket. The worst is behind us. 

[baansgr]

The only business I see at present working full steam are printers, printing for rent and for sale signs

[Lancelot01]

6 hours ago, scammed said:

in that he is wrong, the downward spiral continues unabated

and the coffers will dry out, lets hear what he go to say after another 1/2 year

of senseless lock down

Next year he will probably revert to the US-China trade spat that's holding the country's economy back.

[dbrenn]

On 8/27/2020 at 9:14 PM, Mavideol said:

 

if the numbers he indicated are correct (I doubt) still a contraction of around 7-8 percent.... wishful thinking

Thailand will bounce back. It always does. It's fundamentally successful, its people work hard, and it has a robust, export led economy. 

 

Quite unlike the western world, which closed down all its manufacturing industries and gave all its money to China.