snoop1130 Posted July 30, 2021 Share Posted July 30, 2021 BANGKOK (NNT) - Thailand’s Finance Ministry has slashed its 2021 economic growth forecast to 1.3%, from 2.3%, the third such revision this year, as Thailand fights its biggest COVID-19 outbreak to date. Fiscal Policy Office Director-General Kulaya Tantitemit said the current outbreak is impacting economic activity and the expected number of foreign tourists this year, but improved exports and fiscal measures will lend some support. She said, although Thailand is preparing to reopen, the ministry now expects only 300,000 foreign tourists this year, down from an earlier forecast of 2 million. According to Ms. Kulaya, the government expects to use 200 billion baht, of a new 500-billion baht borrowing plan this year, to finance stimulus measures. The Finance Ministry is also ready to implement additional support measures, as appropriate, as the fiscal position remains strong and that the public debt to GDP ceiling of 60% can be raised if necessary. -- © Copyright NNT 2021-07-30 - Whatever you're going through, the Samaritans are here for you - Follow ASEAN NOW on LINE for breaking COVID-19 updates Link to comment Share on other sites More sharing options...
Popular Post kotsak Posted July 30, 2021 Popular Post Share Posted July 30, 2021 (edited) I suspect they forgot to add the minus sign in front of the percentage? Edited July 30, 2021 by kotsak 3 1 Link to comment Share on other sites More sharing options...
Cunning Stunts Posted July 30, 2021 Share Posted July 30, 2021 Best to slash it in stages I guess......optics. 1 Link to comment Share on other sites More sharing options...
Popular Post bkk6060 Posted July 30, 2021 Popular Post Share Posted July 30, 2021 I am no expert, but 40 million people spending money are gone and positive growth can still be achieved? Wow, good for Thailand. 1 1 3 Link to comment Share on other sites More sharing options...
Scrotobike Posted July 30, 2021 Share Posted July 30, 2021 Growth from borrowing and spending? 2 Link to comment Share on other sites More sharing options...
hotchilli Posted July 31, 2021 Share Posted July 31, 2021 15 hours ago, snoop1130 said: Thailand’s Finance Ministry has slashed its 2021 economic growth forecast to 1.3%, from 2.3%, the third such revision this year, as Thailand fights its biggest COVID-19 outbreak to date Slash and burn... two things Thailand can manage. 1 Link to comment Share on other sites More sharing options...
hotchilli Posted July 31, 2021 Share Posted July 31, 2021 14 hours ago, Scrotobike said: Growth from borrowing and spending? It's called creative accounting. 2 Link to comment Share on other sites More sharing options...
Isaan sailor Posted July 31, 2021 Share Posted July 31, 2021 If tourism is shot, and factories have closed…how about bringing the Baht down another 5-10%? It couldn’t hurt. Link to comment Share on other sites More sharing options...
AnotherFarang8 Posted July 31, 2021 Share Posted July 31, 2021 Soon the only positive growth will be the rate of births as people have nothing else to do. And now there is news of possibly more knee-jerk reaction for Phuket Samui plan. Link to comment Share on other sites More sharing options...
HappyinNE Posted July 31, 2021 Share Posted July 31, 2021 No way will real growth be positive. My bet is -5%. Link to comment Share on other sites More sharing options...
worgeordie Posted July 31, 2021 Share Posted July 31, 2021 (edited) 21 hours ago, snoop1130 said: According to Ms. Kulaya, the government expects to use 200 billion baht, of a new 500-billion baht borrowing plan this year, to finance stimulus measures Can anyone guess where the other 300 Billion is going . regards worgeordie Edited July 31, 2021 by worgeordie Link to comment Share on other sites More sharing options...
bangon04 Posted July 31, 2021 Share Posted July 31, 2021 10 hours ago, hotchilli said: It's called creative accounting. they need to be careful - they can be prosecuted for spreading "fake news" Link to comment Share on other sites More sharing options...
AnotherFarang8 Posted July 31, 2021 Share Posted July 31, 2021 Not related specifically to Thailand. The big war was overdue, the world will be forced to fight it until middle class in richer countries becomes much smaller. Poorer countries really shoot themselves both feet off joining in this insanity. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now