BOT: Thai economy still stable

[webfact]

BOT: Thai economy still stable

BANGKOK, 14 Nov 2014 (NNT) - The Bank of Thailand (BoT) has reaffirmed that Thailand’s economy is still stable, but discouraged the Government from issuing a stimulus package that puts people in extra borrowings.

The comment was made by BoT spokesperson Jirathep Seniwong Na Ayutthaya, in his reply to a concern made by Standard and Poor’s regarding Thailand’s less-than-optimum economic performance which may affect the credibility of the nation’s financial institution.

He affirmed that the kingdom’s economy is still stable and its financial institutions still function normally, with the Q3 Non-Performing Loans standing at 2.34%, a slight increase from the 2.15% at the end of last year.

The figures indicate that the nation’s commercial banks remain strong. The spokesperson expressed his concerns over the household debts now standing at 83.5% of the GDP, saying that the number is alarmingly high but would not hinder the nation’s economic recovery progress.

He said the household debt rate already shows signs of decline, and the trend should continue if the nation’s economy sustains a recovery rate. Nonetheless, Mr. Jirathep said that the household debt figures should discourage the Government from issuing policy that favors more borrowings.


-- NNT 2014-11-14

[toybits]

It would be easier to believe news like this if censorship were not an issue.

[chainarong]

The patient is in intensive care but in a stable condition , Dr Prayuth remarked that the resilience of the patient was due to him making small adjustments in the reform procedure , however medical expert and former chief medic Thaksin Shinawatra said the good Doctor was a poor reflection of others before him and a diet of rice is all that is required to stop the hemorrhaging.

[konying]

Thats the scary part.

Auto sales, down, tourism down,debt high, prices up, business closing down but economy is stable.

Go figure

[h90]

Thats the scary part.

Auto sales, down, tourism down,debt high, prices up, business closing down but economy is stable.

Go figure

We are supplying products for the industry and feel every slowdown strongly. Our orders slowed down a bit, but not dramatic. Car industry still service their production machines which they didn't in the last crises (was it 2009).

If stable means a zero grow but no contraction than I can believe it.

[HUAHIN62]

Thats the scary part.

Auto sales, down, tourism down,debt high, prices up, business closing down but economy is stable.

Go figure:facepalm:

We are supplying products for the industry and feel every slowdown strongly. Our orders slowed down a bit, but not dramatic. Car industry still service their production machines which they didn't in the last crises (was it 2009).

If stable means a zero grow but no contraction than I can believe it.

The domestic vehicle sales are down but exports are stable, but with no new vehicle manufacturing entering the country it is only a question of time before the industry will start to decline. The Japanese have moved (in process of moving) the manufacturing of the Focus out of Thailand. With the present political climate in the country and the stupid limitations on foreign companies there are much better countries to manufacture in. Tourism is down as well as retail (+- 20% OF GDP). Overall exports are also down which is 70% of GDP.

[sfokevin]

Has the BOT weighed in on the unpaid rice scheme bills found in PM Yuckling's desk?...

[Chris Lawrence]

Thats the scary part.

Auto sales, down, tourism down,debt high, prices up, business closing down but economy is stable.

Go figure

And a big hit on holding a lot of rice? Plus Thai Air is haemorrhaging? Plus household debt at 83.5% of GDP (I wonder if that debt is more concentrated in one area?)?

Then there is censorship of the media.

A lot of talk about different projects but no heads of agreement signed to actually do works?

While Ban wants martial law lifted, but the General claims it is still needed?

Everything is just fine; Junta is doing excellent job compared to the last lot of democratic elected government?

[khunpa]

The article reminds me of some of the articles just before the financial crises hit.

Everything was just fine, until it was not :-)

[Cake Monster]

With the BOT releasing this report that the economy is still stable only 3 days after a " Bloomberg " terminal report that Thailand was considering some kind of financial stimulus to kick start the economy, who is to be believed ?.

A spin by the BOT me thinks , as all the major pointers for the economy do not have the ducks in a line for healthy.