New Thai finance minister says to focus on boosting consumption, liquidity

 

FILE PHOTO: Thailand Transport Minister Arkhom Termpittayapaisith speaks during an interview with Reuters in Bangkok, Thailand, June 25, 2018. REUTERS/Panu Wongcha-um

 

BANGKOK (Reuters) - Thailand will focus on spurring domestic consumption and reopening an economy badly hit by the impact of the coronavirus crisis, the country's new finance ministry said on Monday.

 

The other main tasks include boosting liquidity, supporting tourism and accelerating public spending, Arkhom Termpittayapaisith told reporters on his first official day at work.

 

Later on Monday, the cabinet will consider planned tax breaks to increase spending.

 

(Reporting by Kitphong Thaichareon; Writing by Orathai Sriring; Editing by Ed Davies)

 

-- © Copyright Reuters 2020-10-12

 

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“The other main tasks include boosting liquidity, supportingtourism and accelerating public spending, Arkhom”

 

It’s Monday, there must be another tourist hair brained scheme announcement surely.  

Isn't CONSUMPTION the old word for Tubercolosis?   LOL 555

Already got enough ' liquidity ' seeing as how the economy is in meltdown.

 

Thanks China. Great guys , great job.

 

 

34 minutes ago, webfact said:

The other main tasks include boosting liquidity, supporting tourism and accelerating public spending

Typical meaningless technocratic language! 

 

No mention of any amounts, timeframe and other essential concrete infos... 

19 minutes ago, trucking said:

Already got enough ' liquidity ' seeing as how the economy is in meltdown.

 

Thanks China. Great guys , great job.

 

 

Yes, wonderful commie country, wonderful government and wonderful virus they created and let out of the bag. Do they really think if they give tax breaks corporate and otherwise that they companies will take that and spend in the economy?

Dont need Tax breaks with zero income!

Sharp summed it up nicely!  With household debt Being the 300 pound gorilla on everyone's back it is difficult to see how more spending will help the regular  people.  Sure it will help the Bangkok elites....but for the other 69 million....no! 

1 hour ago, webfact said:

New Thai finance minister says to focus on boosting consumption, liquidity

Boosting consumption in an economy where the average Thai is in debt up to their eyeballs.
Boosting liquidity by extended more loans to those who are carrying more debt than they can possibly service in a lifetime. 

Banks don't care.  When the debt bubble bursts they'll expropriate their depositor's life savings, foreclose on all debtors, and head to the government with their hands outstretched - after which - bonuses for the bosses. 

We've seen this movie before.  It's a reboot.

1 hour ago, webfact said:

New Thai finance minister says to focus on boosting consumption supporting tourism and accelerating public spending

Buy a vowel as you need a clue

 

How will a population in trouble economically..... with reports of Non Performing Loans being worse then the 1997 crisis..... boost consumption & accelerate their spending???

 

Is there a "decent" stimulus coming soon? Because if not expect the general public to clamp down

more on not spending what they do not have. Or banks can continue to make loans knowing they will be Non Performing Loans.

 

As for supporting tourism...hello? You mean charge existing real property owners 3 million baht on deposit to visit their property?

That is called extortion not tourism thanks ????

Edited October 12, 20205 yr by meechai

Blah, blah, blah.  Just take that damned Baht down.

Consume! Obey! Now what does that remind me of?

7 hours ago, stouricks said:

Isn't CONSUMPTION the old word for Tubercolosis?   LOL 555

Yep, and Thailands got a bad dose of it.