'Bangkok Bank' paints positive picture for Thai economy

[webfact]

Thai bank paints positive picture for Thai economy
By Digital Content



BANGKOK, April 17 – Thailand’s solid fundamentals will contribute to economic growth at 2-3 per cent and export expansion at 5-7 per cent this year, according to a leading Thai banker.

Kobsak Pootrakool, executive vice president of Bangkok Bank's International Banking Group brushed aside a negative description of Thailand’s economy as a sick man, saying the Thai people’s purchasing power has dropped but not significantly.

People are always in the shopping mood but they have deferred purchases of major items such as cars and homes, he said.

He said the government’s cancellation of the state of emergency has spurred tourism after a number of countries lifted warnings against visiting Thailand.

The number of travellers via Suvarnabhumi airport which suffered an 8-per cent decline during the use of the emergency decree has returned to normal while the formation of new Board of Investment members will help stimulate investment in the country, he said.

Mr Kobsak said small- and medium-sized businesses have balanced themselves and moved on despite slight deficits while the Thai economy will surge back late this year unless the political crisis worsens.

If the political impasse is prolonged without violence, the Thai economy will grow about 1-2 per cent, he said, adding that the economic situation will be worse than the 2010 Thai economic meltdown if the political turmoil escalates.

However, it is estimated that about Bt50 billion of funds in circulation will disappear from the Thai market this year given the suspensions of the Bt2 trillion investment on infrastructure development and the Bt350 billion water management project, he said. (MCOT online news)


-- TNA 2014-04-17

[toybits]

When enough lies have been told, another one comes sooo easily...

[canopus1969]

BANGKOK: -- Thailand’s leading private "think tank" Kasikorn Research Center or KResearch says the country’s economy is on the verge of recession

Wish they could make up their minds

[chainarong]

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canopus1969, on 17 Apr 2014 - 11:35, said:

BANGKOK: -- Thailand’s leading private "think tank" Kasikorn Research Center or KResearch says the country’s economy is on the verge of recession

Wish they could make up their minds

That's what I thought,

Edited April 17, 2014 by chainarong

[Tatsujin]

Kasikorn Research Center says there's going to be a recession. Bangkok Bank says we'll have economic growth. They can't both be right.

[huanga]

Kasikorn Research Center says there's going to be a recession. Bangkok Bank says we'll have economic growth. They can't both be right.

I think they are both right and wrong

Gotta look at the same issue from all angles to cover their asses, no matter what the outcome is

[up-country_sinclair]

Kobsak Pootrakool, executive vice president of Bangkok Bank's International Banking Group brushed aside a negative description of Thailand’s economy as a sick man

In the financial industry this is referred to as "talking your book".

Edited April 17, 2014 by up-country_sinclair

[clockman]

Can we believe any banker, in any country!

[ggold]

However, it is estimated that about Bt50 billion of funds in circulation will disappear from the Thai market this year given the suspensions of the Bt2 trillion investment on infrastructure development and the Bt350 billion water management project, he said.

Was the Bt50 billion meant to be the kick backs for the contracts for said Projects? Or just the price to have a seat at the trough!

[slapout]

The 50 billion used to be referred to as tea money, but on a 2 trillion baht buffet line, that is for parking space for the family so they are assured to be at the front of the line.

[leggo]

What a bullshitter!

Sent from my i-mobile IQ 2 using Thaivisa Connect Thailand mobile app

[WoopyDoo]

Kasikorn says we are heading for recession and BKB says we are all in great shape.

Who cares anyway.

[ezzra]

Duh.. and why would they paint any other picture other that all nice and sweet spice?

would they want a mass stamped on deposits? it's like a restaurateur saying that

his food is bad...

[jacko45k]

Where did I read Thailand was near recession today?

[Lupatria]

I didn't know Thailand’s leading private "think tank" is full of LaoKhao

[skorchio]

BANGKOK: -- Thailand’s leading private "think tank" Kasikorn Research Center or KResearch says the country’s economy is on the verge of recession

Wish they could make up their minds

He was instructed to say this in response to what was said by the other agency which was instructed to say something else by someone else. Its all bolox, political rhetoric. But there is a common theme in both statements - if things don't get better, they will get worse, jing jing, but the world won't end tomorrow

[Sydebolle]

What a load of bull ........ Purchase power doubling? I run a business and can handle credit cards too. Guess whose cards are getting declined on a 1 in 4 ratio? Not a single alien among those declined!

[PaullyW]

A "think tank" in Thailand?! LOL

Common, man. I can assure you, it's more like a tank full of stuffy old rice farmers in ill fitting suits, with their attractive young assistants taking notes with note pads and getting them snacks from the food cart outside the meeting space, with the oldest guy from each unit/industry/etc. pontificating on and on with nobody questioning anything anyone says.

That's a Thai "think tank".

[techboy]

When enough lies have been told, another one comes sooo easily...

Lies? About the state of the Thai economy? Which "lies" and why are they lies? Do tell- please share your fiscal insights with us...

[3NUMBAS]

all the remittances from the global vice trade flow back thru BKK Bank so they would have a rosy picture ,oh and sponsors money to gals .

every city and town has a Thai massage parlour cum brothel staffed by you know who

[Thai at Heart]

Evidently the Sophonpanich bunch expect to be closely involved in the new committee.