Deputy Prime Minister promises more economic stimuli as country copes with COVID-19

[webfact]

 

By Tanakorn Sangiam

   

BANGKOK (NNT) - Hopes of restarting the tourism sector might need to be pushed back again as new cases of COVID-19 reach a record high. The Deputy Prime Minister and Minister of Energy said today that this new wave might bring Thailand’s 2021 GDP down from its 4% target, while stressing the government will be introducing more economic stimuli.

 

Deputy Prime Minister and Minister of Energy Supattanapong Punmeechaow said the Thai economy overall can still move forward following a good performance by the export sector, however the new wave of COVID-19 cases might bring down expected GDP growth this year to below the 4% target.

 

Mr Supattanapong said the government will do all it can to stimulate the economy, by issuing measures to stimulate domestic consumption, as well as proceeding with infrastructure investment to create more jobs and income among younger generations.

 

Whether or not the new wave will affect the country’s reopening date for foreign visitors of 1st July, the DPM and Energy Minister said the situation will need to be monitored day by day, as the situation is currently developing around the world.

 

He said the most important thing is to regain confidence among the general public through effective epidemic control action that allows the economy to grow simultaneously.

 

Mr Supattanapong said he believes the situation will improve, as the people are now more experienced with how to protect themselves, and the government now has experience from the previous outbreak in Samut Sakhon, while stressing the healthcare system is capable of handling the increase in the number of patients.

 

-- © Copyright NNT 2021-04-18

 

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[Excel]

Realism is not in these goons  understanding as said "wave might bring Thailand’s 2021 GDP down from its 4% target"

 

"Might" is a bit of an understatement

[Brierley]

The article doesn't make sense, in March this year, BOT cut its estimate for GDP growth from 3.2% to 3% so yes, it will be below 4%.

Edited April 18, 2021 by Brierley

[ThailandRyan]

20 minutes ago, webfact said:

Mr Supattanapong said he believes the situation will improve, as the people are now more experienced with how to protect themselves, and the government now has experience from the previous outbreak in Samut Sakhon

That is just a pure laughable statement.  If they actually were more experienced then they would not have allowed the travel for Songkran in order to get control over something that was starting to spread.  Alas, this government probably felt that they could handle anything that came there way by doing what they had done before.  Oh wait, they did not ring Thonglor with Barbed wire, and locked all of the people in their homes or business places, the MP's and staff were not locked into Government house like the migrant workers were.  Does anybody see a 100% difference from what was done before, just like a lack of mass testing, or am I just envisioning that things were not not like before and the New variant just mysteriously descended upon Thailand and into all 77 provinces. 

 

25 minutes ago, webfact said:

stressing the healthcare system is capable of handling the increase in the number of patients.

If this is also true then why are hospitals turning away patients and people having to wait to find a bed either in a Field hospital or a hospital in another province.  Please give it a rest and stop trying to save FACE Mr. Minister.  In light of this please tell us how the government will give more stimulus to the folks needing it when the budget has almost been gone through, the pittance that it was (More spent on Submarines I think).  Please expand on youer assistance that is what folks really want and need now.  As far as the $5 GDP growth you folks expected because of the domestic tourism and Songkran, you can now rely on it possibly being in the RED. 

[realfunster]

1 hour ago, webfact said:

however the new wave of COVID-19 cases might bring down expected GDP growth this year to below the 4% target.

 

Disingenuous or ignorant, or both. 

 

Targets have already been revised down in February ,after the New Year outbreak, to between 2.5-3.5%.

https://www.boi.go.th/upload/content/Thailand Economic Outlook 2021 EN_6034b4cfeaaf8.pdf

https://www.bangkokpost.com/business/2068871/nesdc-revises-down-2021-growth-outlook

 

Taking this more serious current outbreak into account, I expect we are now aiming for 1.5-2.5% this year. The economy shrunk 6% in 2020 which means it needs to grow 6.4% to get back to 2019 levels.

It’s looking like, at best, that GDP will recover above 2019 levels by 2023.

[bloodyholly]

“More” ??????

[anchadian]

How many 'Deputy' prime ministers are there in the government?

[ThailandRyan]

3 minutes ago, anchadian said:

How many 'Deputy' prime ministers are there in the government?

How long is a piece of string comes to mind again and again, way to may in my book and they were all selected not elected unfortunately, well at least 2/3rds were.

[Excel]

1 hour ago, ThailandRyan said:

How long is a piece of string comes to mind again and again, way to may in my book and they were all selected not elected unfortunately, well at least 2/3rds were.

Well there has to be enough of these posts created so that when the toytown Generals retire they can all become DPM's around the trough.

[Tropicalevo]

3 hours ago, Brierley said:

The article doesn't make sense, in March this year, BOT cut its estimate for GDP growth from 3.2% to 3% so yes, it will be below 4%.

Yes, but 'Deputy Prime Ministers' do not read the facts. They just say what they are told to say.

[RichardColeman]

6 hours ago, webfact said:

however the new wave of COVID-19 cases might bring down expected GDP growth this year to below the 4% target.

Been saying for weeks now 0% to -2%, if they do not open up to un-quarantining tourism by late summer. Thailand cannot grow GDP really on domestic consumption with continual high unemployment and no money being spent.

[hotchilli]

8 hours ago, webfact said:

Hopes of restarting the tourism sector might need to be pushed back again as new cases of COVID-19 reach a record high. The Deputy Prime Minister and Minister of Energy said today that this new wave might bring Thailand’s 2021 GDP down from its 4% target, while stressing the government will be introducing more economic stimuli.

Thailand needs vaccines not stimulus or short term scams.

[Cake Monster]

8 hours ago, webfact said:

Mr Supattanapong said he believes the situation will improve, as the people are now more experienced with how to protect themselves, and the government now has experience from the previous outbreak in Samut Sakhon, while stressing the healthcare system is capable of handling the increase in the number of patients.

What a crock of S^^^

[Brierley]

2 hours ago, RichardColeman said:

Been saying for weeks now 0% to -2%, if they do not open up to un-quarantining tourism by late summer. Thailand cannot grow GDP really on domestic consumption with continual high unemployment and no money being spent.

What if you add in exports which seem to be running around their long term average of USD 20 million per month?

[RichardColeman]

1 hour ago, Brierley said:

What if you add in exports which seem to be running around their long term average of USD 20 million per month?

Yes, but they are about to knock off 3-4 months of tourists in 2020 GDP.

 

If they are not replaced, they will be paddling water to stay where they were last year

[ThailandRyan]

3 minutes ago, RichardColeman said:

Yes, but they are about to knock off 3-4 months of tourists in 2020 GDP.

 

If they are not replaced, they will be paddling water to stay where they were last year

Time to suddenly find gold reserves to sell to the US and take the return in USD to shore up the reserves.  Problem is that many families that cashed out the gold to survive in 2020 are very low on any reserves themselves.  There go all the rings and gold chains the foreigners bought for their GF's.

[Brierley]

4 minutes ago, RichardColeman said:

Yes, but they are about to knock off 3-4 months of tourists in 2020 GDP.

 

If they are not replaced, they will be paddling water to stay where they were last year

If the Thai economy could stay where it was last year that would not be a bad result, as long as it's only for one year. Losing the 12% of GDP that is foreign tourism will cause damage. Don't forget though that government spending forms a part of the GDP calculation. So don't expect the end of year figure to fall in line with the loss of international tourism, it could even look quite healthy albeit other elements such as borrowing and reserves will look much worse.

[newnative]

9 hours ago, anchadian said:

How many 'Deputy' prime ministers are there in the government?

And, why is the Energy Minister reporting on economic matters?  Oh, never mind.  

[Forza2002]

Arkhom Termpittayapaisith is the Finance Minister so why is this DPM spouting about the Economy when it's not his area of expertise, his Portfolio is Energy. Why are the press printing what he is saying? T.I.T....

[Excel]

13 minutes ago, Forza2002 said:

Arkhom Termpittayapaisith is the Finance Minister so why is this DPM spouting about the Economy when it's not his area of expertise, his Portfolio is Energy. Why are the press printing what he is saying? T.I.T....

Because irrespective of what any position a minister holds, no minister in this government has any expertise in the department for which they are responsible. 

[Brierley]

7 minutes ago, Excel said:

Because irrespective of what any position a minister holds, no minister in this government has any expertise in the department for which they are responsible. 

Just like in most western countries, including the UK.

[Excel]

5 minutes ago, Brierley said:

Just like in most western countries, including the UK.

So Rushi Sunak, as one example,  in your opinion has no experience in financial management ?

 

Really,

https://www.google.co.uk/search?q=rishi+sunak&source=hp&ei=pR98YLLdA5OG4-EPiauruAc&iflsig=AINFCbYAAAAAYHwttXnwCF-Y0a75NzjP9CEc1NCracsG&gs_ssp=eJzj4tVP1zc0TDJLLkkrKK40YPTiLsoszshUKC7NS8wGAH_JCVc&oq=rushi+sunak&gs_lcp=Cgdnd3Mtd2l6EAEYADIHCC4QChCTAjIECAAQCjIECAAQCjIECAAQCjIECAAQCjIECAAQCjIECAAQCjIECAAQCjIECAAQCjIECAAQCjoLCC4QsQMQgwEQkwI6BQgAELEDOggIABCxAxCDAToCCC46CAguELEDEIMBOgIIADoICC4QsQMQkwI6BQguELEDOggILhDHARCvAToFCC4QkwI6BAgAEAM6BAguEAo6CgguEMcBEK8BEApQtgxYkCNgoENoAHAAeACAAZYBiAHgCZIBBDEuMTCYAQCgAQGqAQdnd3Mtd2l6&sclient=gws-wiz

[Brierley]

46 minutes ago, Excel said:

So Rushi Sunak, as one example,  in your opinion has no experience in financial management ?

 

Really,

https://www.google.co.uk/search?q=rishi+sunak&source=hp&ei=pR98YLLdA5OG4-EPiauruAc&iflsig=AINFCbYAAAAAYHwttXnwCF-Y0a75NzjP9CEc1NCracsG&gs_ssp=eJzj4tVP1zc0TDJLLkkrKK40YPTiLsoszshUKC7NS8wGAH_JCVc&oq=rushi+sunak&gs_lcp=Cgdnd3Mtd2l6EAEYADIHCC4QChCTAjIECAAQCjIECAAQCjIECAAQCjIECAAQCjIECAAQCjIECAAQCjIECAAQCjIECAAQCjIECAAQCjoLCC4QsQMQgwEQkwI6BQgAELEDOggIABCxAxCDAToCCC46CAguELEDEIMBOgIIADoICC4QsQMQkwI6BQguELEDOggILhDHARCvAToFCC4QkwI6BAgAEAM6BAguEAo6CgguEMcBEK8BEApQtgxYkCNgoENoAHAAeACAAZYBiAHgCZIBBDEuMTCYAQCgAQGqAQdnd3Mtd2l6&sclient=gws-wiz

One exception doth not make the rule! 

 

In general, most cabinet ministers in the UK are not given their posts because they have expertise in that field. That's why PM's are able to reshuffle posts frequently, the permanent staff of the Civil Service underpin all the Ministerial departments and supply the necessary expertise, Ministers are typically just front men/women and above all else, politicians.

[Excel]

Just now, Brierley said:

One exception doth not make the rule! 

 

In general, most cabinet ministers in the UK are not given their posts because they have expertise in that field. That's why PM's are able to reshuffle posts frequently, the permanent staff of the Civil Service underpin all the Ministerial departments and supply the necessary expertise, Ministers are typically just front men/women and above all else, politicians.

So whilst making a generalised statement , which is wrong,  it is always wise to check your facts first.

[Brierley]

45 minutes ago, Excel said:

So whilst making a generalised statement , which is wrong,  it is always wise to check your facts first.

I don't believe it is wrong, as a general rule, that's not the way the system works. Ministers don't begin their careers with training in specific fields and then decide to try and get elected as an MP in the hope of becoming a Minister in that field, that would be almost impossible to schedule. Matt Hancock has no background in health or medical, Gavin Williamson has no background experience in Education, Mark Spencer has no background in Treasury, Michael Ellis, Attorney General, used to be DOT and Treasury, and so on.

[Excel]

2 minutes ago, Brierley said:

I don't believe it is wrong, as a general rule, that's not the way the system works. Ministers don't begin their careers with training in specific fields and then decide to try and get elected as an MP in the hope of becoming a Minister in that field, that would be almost impossible to schedule. Matt Hancock has no background in health or medical, Gavin Williamson has no background experience in Education, Mark Spencer has no background in Treasury, Michael Ellis, Attorney General, used to be DOT and Treasury, and so on.

Stop blustering to attempt to justify being wrong. In response to my post stating no minister had experience etc etc, you wrote "Just like in most western countries, including the UK" . You were proven wrong and I showed you up for it  - period.

[Soikhaonoiken]

16 hours ago, anchadian said:

How many 'Deputy' prime ministers are there in the government?

My thoughts exactly, as the saying goes, ...... More Chiefs than Indians.. ????