webfact Posted August 24, 2013 Share Posted August 24, 2013 Kittiratt: Baht depreciation will benefit export BANGKOK, 24 August 2013 (NNT) – Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong has expressed his confidence that the depreciation of Thai baht will be good for the country’s export.During the “PM Yingluck Meets the People” program, Minister Kittiratt has stated that the value of Thai currency is in the appropriate level which is suitable for the country’s export growth as the depreciation of baht will edge the competitiveness of Thai exporters in the international market. He also reaffirmed that Thai economy is not in recession, but the current growth is only below expectations, adding that other countries in this region are also facing the same problem.He further revealed that even though Thai economic growth in the second quarter was lower than the first, the figures cannot be taken into account, meaning the growth percentage in the first quarter cannot be compared to the following quarter. He elaborated that Thailand, in the second quarter, stopped importing natural gas from Myanmar for over a week, plus there were long holidays during the period, thus the industrial sector stopped their operations. As a result, he said it is normal that the numbers in the second quarter will be lower than the previous one.-- NNT 2013-08-24 Link to comment Share on other sites More sharing options...
bigbamboo Posted August 24, 2013 Share Posted August 24, 2013 Thai economics students look away now. 1 Link to comment Share on other sites More sharing options...
Popular Post Soutpeel Posted August 24, 2013 Popular Post Share Posted August 24, 2013 Baht depreciation will benefit export Duh !!....ya think so......the head line should read...Baht depreciation will benefit Thai goverment in off loading dodgy Thai rice... 9 Link to comment Share on other sites More sharing options...
Thai at Heart Posted August 24, 2013 Share Posted August 24, 2013 Baht depreciation will benefit export Duh !!....ya think so......the head line should read...Baht depreciation will benefit Thai goverment in off loading dodgy Thai rice... Not one extra grain well be exported because of the currency moving this little. 1 Link to comment Share on other sites More sharing options...
Robby nz Posted August 24, 2013 Share Posted August 24, 2013 But we were told yesterday : Plunge in the baht 'a short-term issue' So it will therefore have no effect other than for a short time, right? 2 Link to comment Share on other sites More sharing options...
culicine Posted August 24, 2013 Share Posted August 24, 2013 Just ask Venezuela how good a worthless currency is!.....maybe good for big time exporters and hotel chains...what about everyone else? 1 Link to comment Share on other sites More sharing options...
NongKhaiKid Posted August 24, 2013 Share Posted August 24, 2013 Another day another load of official BS. A couple of days there was no problem and everyone except him had got it wrong and now it's beneficial. What planet do these people live on ? 1 Link to comment Share on other sites More sharing options...
Rimmer Posted August 24, 2013 Share Posted August 24, 2013 Inflammatory post of no value to the discussion removed also a quoted reply Link to comment Share on other sites More sharing options...
Heng Posted August 24, 2013 Share Posted August 24, 2013 Sweet Jesus give me another 'weak Baht' era. The last one made me, now it's time to buy some toys. 1 Link to comment Share on other sites More sharing options...
DeeMaiDee Posted August 24, 2013 Share Posted August 24, 2013 Recession sure helps tourism... Link to comment Share on other sites More sharing options...
Thait Spot Posted August 24, 2013 Share Posted August 24, 2013 The problem is that when your economic policies make you a net importer in terms of balance of payments, a weak baht costs the tax payer more and reduces GDP Sent from my Galaxy Nexus using Thaivisa Connect Thailand mobile app Link to comment Share on other sites More sharing options...
ridkun Posted August 24, 2013 Share Posted August 24, 2013 I hope it weren't just another White Lie™ from him. How about importers? Link to comment Share on other sites More sharing options...
Thai at Heart Posted August 24, 2013 Share Posted August 24, 2013 I hope it weren't just another White Lie from him. How about importers? You mean everyone who has to fill up their vehicle? They can't wait for prices to rise to help the exporters.... Link to comment Share on other sites More sharing options...
surangw Posted August 24, 2013 Share Posted August 24, 2013 thai logic in action, say the opposite of what will happen and sound like a genius Link to comment Share on other sites More sharing options...
Beetlejuice Posted August 24, 2013 Share Posted August 24, 2013 Great for us expats who receive their incomes from abroad. I hope the baht crashes right through the floor and that finally the bubble has burst regarding the ever strengthening Thai currency. Or perhaps this is just wishful thinking? 2 Link to comment Share on other sites More sharing options...
Thai at Heart Posted August 24, 2013 Share Posted August 24, 2013 Great for us expats who receive their incomes from abroad. I hope the baht crashes right through the floor and that finally the bubble has burst regarding the ever strengthening Thai currency. Or perhaps this is just wishful thinking? Well as we know, the last time it was Soros who forced the backs to extend all those ridiculous loans and that there was zero incompetent or corrupt or illegal lending. So this time round I am sure the Thais will be very accommodating and admit that any mess coming was entirely their fault. A collapse of the baht won't cause massive unemployment, a massive explosion of inflation, enormous repossessions and this time around there definitely wouldn't be any possibility that the Thai politicians won't point the finger at foreigners as having caused the problem again this time. Link to comment Share on other sites More sharing options...
NeverSure Posted August 24, 2013 Share Posted August 24, 2013 No wollies. It ony make it cheaper for short time. Link to comment Share on other sites More sharing options...
Ricardo Posted August 25, 2013 Share Posted August 25, 2013 DPM/FM Kittirat believes that the weaker Baht is good for Thailand's economy ? So do I ! So why didn't he previously arrange government-policy to weaken the Baht deliberately, given that growth was coming-in below PTP's already-unchallenging targets, by cutting interest-rates for example ? 1 Link to comment Share on other sites More sharing options...
notmyself Posted August 25, 2013 Share Posted August 25, 2013 Great for us expats who receive their incomes from abroad. I hope the baht crashes right through the floor and that finally the bubble has burst regarding the ever strengthening Thai currency. Or perhaps this is just wishful thinking? You don't want the Baht to crash, just weaken. Link to comment Share on other sites More sharing options...
tomyummer Posted August 25, 2013 Share Posted August 25, 2013 (edited) Crash would be nice. Just let us all know when this will happen so we can jump on the bandwagon to make huge gains overnight. Just like during the 1997 crisis where many 'high level' politicians and their cronies made millions upon millions. Edited August 25, 2013 by tomyummer Link to comment Share on other sites More sharing options...
notmyself Posted August 25, 2013 Share Posted August 25, 2013 A big crash would be nice. But this time, please let us all know when this will happen so we can jump on the bandwagon to make huge gains overnight. Just like during the 1997 crisis where many 'high level' politicians and their cronies made millions overnight. Fine if you have plenty of money to shuffle around Link to comment Share on other sites More sharing options...
drdoom6996 Posted August 25, 2013 Share Posted August 25, 2013 But we were told yesterday : Plunge in the baht 'a short-term issue' So it will therefore have no effect other than for a short time, right? You beat me to it. Contradiction is the key to ignorance. Link to comment Share on other sites More sharing options...
anon467367354 Posted August 25, 2013 Share Posted August 25, 2013 Thailand can't be in a recession because the surrounding countries are having the same issue. 2 Link to comment Share on other sites More sharing options...
kirk0233 Posted August 25, 2013 Share Posted August 25, 2013 He further revealed that even though Thai economic growth in the second quarter was lower than the first, the figures cannot be taken into account, meaning the growth percentage in the first quarter cannot be compared to the following quarter. He elaborated that Thailand, in the second quarter, stopped importing natural gas from Myanmar for over a week, plus there were long holidays during the period, thus the industrial sector stopped their operations. I suggest that legislation should be passed to provide an equal number of holidays in each quarter in order to facilitate the analysis of growth among quarters in the future. Link to comment Share on other sites More sharing options...
khunken Posted August 25, 2013 Share Posted August 25, 2013 He's just echoing what the economic genius Yingluck said a day or so ago. No recession because PTP doesn't allow such things to happen. The only exporters to benefit are those (few) whose raw materials are not imported. He didn't mention imported fuel costs of course. Link to comment Share on other sites More sharing options...
BlackJack Posted August 25, 2013 Share Posted August 25, 2013 who's on first http://www.youtube.com/watch?v=airT-m9LcoY Link to comment Share on other sites More sharing options...
Thai at Heart Posted August 25, 2013 Share Posted August 25, 2013 He's just echoing what the economic genius Yingluck said a day or so ago. No recession because PTP doesn't allow such things to happen. The only exporters to benefit are those (few) whose raw materials are not imported. He didn't mention imported fuel costs of course. The country desperately needs productivity increases to move GDP forward, not continually relying on hoping for the currency. Link to comment Share on other sites More sharing options...
JepSoDii Posted August 25, 2013 Share Posted August 25, 2013 He's just echoing what the economic genius Yingluck said a day or so ago. No recession because PTP doesn't allow such things to happen. The only exporters to benefit are those (few) whose raw materials are not imported. He didn't mention imported fuel costs of course. The country desperately needs productivity increases to move GDP forward, not continually relying on hoping for the currency. +1 to that. Without an increase in productivity, hard to see how this country deserves a strong currency. Actually I don't know what drove it to such strength the past 7, 8 years. Before that it was always 37-42 and Thailand was perfectly affordable. And since this country has such a huge reliance on tourism, seems to me that won't last with a strong currency. Link to comment Share on other sites More sharing options...
Thai at Heart Posted August 25, 2013 Share Posted August 25, 2013 (edited) He's just echoing what the economic genius Yingluck said a day or so ago. No recession because PTP doesn't allow such things to happen. The only exporters to benefit are those (few) whose raw materials are not imported. He didn't mention imported fuel costs of course. The country desperately needs productivity increases to move GDP forward, not continually relying on hoping for the currency. +1 to that. Without an increase in productivity, hard to see how this country deserves a strong currency. Actually I don't know what drove it to such strength the past 7, 8 years. Before that it was always 37-42 and Thailand was perfectly affordable. And since this country has such a huge reliance on tourism, seems to me that won't last with a strong currency. Well they have been growing, and the usa had been printing money, but the 300 a day, lack of domestic competition to help consumption has basically pushed them to this point. The whole system is reliant on the exchange rate. It's not enough. Edited August 25, 2013 by Thai at Heart Link to comment Share on other sites More sharing options...
belg Posted August 25, 2013 Share Posted August 25, 2013 they always find a way to make it a GOOD THING when it suits them ... so why was the baht so strong for 3 years ... ??? Link to comment Share on other sites More sharing options...
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