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

Thai economics students look away now.

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...

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.

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?

Just ask Venezuela how good a worthless currency is!.....maybe good for big time exporters and hotel chains...what about everyone else?

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 ?

Inflammatory post of no value to the discussion removed also a quoted reply

Sweet Jesus give me another 'weak Baht' era. The last one made me, now it's time to buy some toys.

Recession sure helps tourism...

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

I hope it weren't just another White Lie™ from him. How about importers?

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....

thai logic in action, say the opposite of what will happen and sound like a genius

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?

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.

No wollies. It ony make it cheaper for short time.

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 ?

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.

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, 201312 yr by tomyummer

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

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.

Thailand can't be in a recession because the surrounding countries are having the same issue.

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.

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.

who's on first http://www.youtube.com/watch?v=airT-m9LcoY

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.

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.

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, 201312 yr by Thai at Heart

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 ... ???