Thai economy seen contracting less than forecast this year - ministry

 

FILE PHOTO: Cars pass a Skytrain (Bangkok Mass Transit System) construction site in Bangkok, Thailand May 13, 2018. REUTERS/Soe Zeya Tun

 

BANGKOK (Reuters) - Thailand's economy is likely to shrink less this year than the record 8.5% projected previously, helped by government stimulus measures, the finance ministry said on Tuesday.

 

The shrinkage could be less than the central bank's latest projection for a 7.8% contraction, Lavaron Sangsnit, head of the finance ministry's fiscal policy office, told a briefing.

 

On Tuesday, the cabinet approved measures expected to inject 81 billion baht ($2.56 billion) into the economy in the final quarter of this year, he said.

 

-- © Copyright Reuters 2020-09-29

 

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They are a hopeful bunch are they not.  I could be a pessimist or be an optimist based upon the wording below.

4 minutes ago, snoop1130 said:

The shrinkage could be less than the central bank's latest projection for a 7.8% contraction

But the operative word in the sentence is "could be less".  So it is but wishful thinking and praying to Buddha that they are on the upward curve. 

Because of the hordes of Chinese expected to be the first to take advantage of the STVs? 

Utterly fake projections based on little to nothing. The drop will be huge. Tourism alone represents 20% of the economy. Hotels all over the country are either closed of sitting with 4% occupancy. Airports, airlines, the list goes on. Exports are down. 

 

This administration is not tied to truth. They will say anything. 

4 minutes ago, djayz said:

Because of the hordes of Chinese expected to be the first to take advantage of the STVs? 

But the STD's should all be cleared up before they come so they can enjoy the ride without fear.  Except if they bring another disease with them then its not such a fun time and ride to be had by all.  

 

Not seeing how there will be an uptick unless like Vietnam shipping exports is on the increase.

they'll perform better than these ignorant countries that try this start/stop/restart/stop approach that keeps repeatedly failing no matter how many times they bang their head against the wall..

8 minutes ago, from the home of CC said:

they'll perform better than these ignorant countries that try this start/stop/restart/stop approach that keeps repeatedly failing no matter how many times they bang their head against the wall..

We will know for certain soon enough...

19 hours ago, snoop1130 said:

On Tuesday, the cabinet approved measures expected to inject 81 billion baht ($2.56 billion) into the economy in the final quarter of this year, he said.

So the plan to get the figures up is to give everyone a 1200 baht x-mas bonus to spend ! Clowns.

 

There is absolutely NOTHING that has grown in Thailand during covid - tourism alone, if only 12% of GDP is down 75% - so that's -8% GDP, Exports are down 5-8% minimum, so that's -13% minimum GDP.

 

If Thailand comes in at anything less than 15% then that is mass fraud

 

 

The finance ministry is obviously talking about Swiss accounts falling with such low numbers ????