Thailand’s economic growth labelled underwhelming by government

[webfact]

The economic expansion of Thailand in the previous year and the anticipated growth in the current year have been labelled as underwhelming by the government, referencing a report from the Fiscal Policy Office (FPO).

 

The assertion was made by Chai Wacharonke, the government spokesperson, through a Line chat group created for communication with reporters from the Government House.

 

The FPO report, disclosed by Chai, indicated a meagre economic expansion of 1.8% in the previous year, with a projected growth of 2.8% for the current year. The Pheu Thai Party-led government, however, remains optimistic, with a pledge to stimulate the economy to achieve a targeted growth of 5% within the span of their four-year term.

 

Despite recognizing the low growth figures, Prime Minister Srettha Thavisin, who also holds the Finance Minister role, initially cautioned that these figures were not yet official. The Finance Ministry, however, has since validated the 1.8% growth for the previous year.

 

While PM Srettha chose not to engage in the debate on whether the economy is in crisis, he did assert that it’s in a poor state. He further added that the recent remarks by the Bank of Thailand governor, stating that the economy was not in crisis, were subjective.

 

by Mitch Connor

PHOTO: via Sarkari Pariksha

 

Full story: The Thaiger 2024-01-25

 

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[flyingtlger]

16 minutes ago, webfact said:

The economic expansion of Thailand in the previous year and the anticipated growth in the current year have been labelled as underwhelming by the government

Someone has a firm grasp of the obvious.....

[Will B Good]

What would the Tories do (after 14 years of austerity and mismanagement) to have that kind of growth?

 

.......but at least they've got immigration down to around 700,000 a year and Rwanda will only cost 1/2 billion (to send three Home Secretaries there).

[bamnutsak]

I think the "government's" strategy, that is to say, the PM's strategy, is to cry wolf about an economy in crisis so he can get his digital wallet scheme enacted.

 

Of course, as PM and Finance Minister, screaming about a bad economy reflects badly on him.

 

He's two carrots short of a bunch.

 

This poor sap is going to be shown the door soon and was only placed in his position to take the blame for all of the problems from the eight-year rule or Prayuth.

[soalbundy]

Well the sun is warm the mango trees are flowering, bananas are hanging and the restaurants are full. I see no diminished traffic on the roads and the markets are bustling, nobody has to chose between using the electric or eating, so compared to the UK at least, Thailand is a land of well being.

[hotchilli]

A very lackluster start to the government.. 

But I'm sure all the chosen MP's are benefiting form their positions.

[Srikcir]

7 hours ago, webfact said:

recent remarks by the Bank of Thailand governor, stating that the economy was not in crisis, were subjective.

Facts are subjective relative to application and degree of error versus government political statements having no foundation other than hopes.

 

[Blumpie]

Whats wrong, it's a tourist destination and its supposed to be full now.  Oh lord say it isn't so!!!  Who saw this coming?  I know several blind stray dogs on a soi that saw it...

[stargrazer9889]

The world economy is not in great shape. I do not see other countries

glowing from their great economy either. IMO.