BoT confident Thailand’s GDP will grow in 2015

[webfact]

BoT confident Thailand’s GDP will grow in 2015
By Digital Content



BANGKOK, Oct 13 -- Bank of Thailand (BoT) Governor Prasarn Trairatvorakul has told foreign journalists that he is confident Thailand’s gross domestic product (GDP) will grow next year due to its potential, according to BoT spokesman Chirathep Senivongs Na Ayudhya.

Mr Chirathep said Mr Prasarn told foreign media in an interview on the sidelines of the 2014 Joint World Bank-IMF Development Committee meeting in Washington that Thailand’s political situation has now eased and it should help domestic consumption return to normal.

Spending in Thailand, which had slowed earlier during the unrest, should return to normal while the private sector should gain from government investment, and both would assist in boosting the economy in 2015, Mr Prasarn was quoted as telling the international media.

In addition the interim government is accelerating to reform state enterprises, local energy prices and shoring up agricultural products without government subsidies, said Mr Prasarn.

These measures should help strengthen the country’s competitiveness, he said.

On worries by foreigners regarding foreign direct investment in Thailand, Mr Prasarn told the international media that projects seeking promotional privileges from the Board of Investment had risen noticeably.

These are significant projects such as investment in manufacturing eco cars, food processing and alternative energy. (MCOT online news)


-- TNA 2014-10-13

[Pib]

Pretty safe statement...even 0.1% is growth. But such low growth would cause a lot of financial stress on many businesses and people. Seems when any country doesn't have GDP growth of at least 2 to 3% everybody begins talking a bad or slow economy. Hopefully, the country will have good growth next year.

[rickirs]

"... shoring up agricultural products without government subsidies," said Mr Prasarn.

Is Mr. Prasarn living in an alternate reality?

The Junta, apart from borrowing billions of baht to pay off the Yingluck rice pledge program, has created significant new subsidies for both rice and rubber farmers to guarantee profits. And all the remaining agricultural growers (ie., corn, tapioca, peanuts) are demanding the same benefits. Meanwhile, the Junta has offered soft loans to the public through bank guarantees to replace high interest loan-shark loans in efforts to tame hemorraging household debt - throwing good money at bad money. So I'm sure there will still be SOME GDP growth in 2015 but for Thailand as an emerging economy it will not be enough to hold back inflation.

[Thai at Heart]

Phew. What a ringing endorsement.

That will get the tills ringing. Will grow because of potential. Nothing like a hard and fast prediction then......

[Lupatria]

Is anyone here with knowledge of the existence of a secret 'Ministry of Propaganda' in Thailand?

[Robespiere]

What else could he possibly say?

This is how Dictatorships operate.

Truth, facts and reason have all gone out the window to make room for lies, propaganda and censorship.

[givenall]

Everything, tourism, GDP, etc. is going to be sooooo good. I wish these guys put some real stats behind their predication. the numbers are so many time very rosy and then couple week later the actual are much worse. Of course they never say they made mistakes

Someone should them confidence do not pay the bill