Thai PM admits to slow economic recovery

[VegasVic]

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Then why is the Thai baht so strong???

It is a major exporter. It has lots of foriegn reserves.

More importantly there is a great deal of cheap money in the world today and U.S. and European hedge funds need to spread that money around to get the returns they need, so when they invest in the SET or in other Thai investments the need to buy Thai Baht to make those investments thereby putting upward pressures on the Baht, however when the pendulum swings the other direction (some think this has already begun to happen) then they will be selling those Baht and buying Dollars, Euros and Yen .

[orientalsf]

If they spent more time actioning real policies that genuinely stimulated investment, and less time spouting propaganda and launching purges against certain groups, the economy might be performing better.

As usual there is nothing of substance to his speech, no detail, just the usual promise "things will get better so stick with me."

The honeymoon is over Prayuth, you need to start delivering.

Like any other nation in the world is doing better. Stop being such a nay sayer.

[yellowboat]

If they spent more time actioning real policies that genuinely stimulated investment, and less time spouting propaganda and launching purges against certain groups, the economy might be performing better.

As usual there is nothing of substance to his speech, no detail, just the usual promise "things will get better so stick with me."

The honeymoon is over Prayuth, you need to start delivering.

Like any other nation in the world is doing better. Stop being such a nay sayer.

China is doing better

[rickirs]

Either Gen. Prayuth needs to begin being more honest about the economy or start arresting people for misinforming the public (one of Prayuth's "hot buttons"). Earlier this month:

Industry Minister Chakramon Phasukvanich “said as economic growth next year was expected at between 3% and 3.5% following government’s remedial measures to subsidise farmers, and mega project spendings, the industry will benefit from the growth.” 2014-12-02

Supant Mongkolsuthree, chairman of the Federation of Thai Industries said, “Business operators and the private-sector standing committee [for Commerce, Industry and Banking] expect the Thai economy will grow by just 3.5-4 per cent next year, lower than the previously forecast range of 4-4.5 per cent.” 2014-12-03

Bank of Thailand Advisor on Monetary Security Songtham Pinto “pointed out that the country may suffer from a slow recovery rate in the export sector due to its limited production technology, while making a suggestion that the government should give more importance to the development of labor to offset the balance.” 2014-12-09

Charl Kengchon, KResearch managing director, “… doubted the 4-per-cent growth target next year was achievable.” … Looking ahead, Thailand continues facing downsides from the global economy, which is putting pressure on the exports," … Therefore, the growth of the Thai economy in 2015 is expected to rely on domestic consumption.” 2014-12-13

Taking the above four people’s statements and continued fall of the Baht that will impact domestic consumption, I expect at best a growth rate of 3.0-3.5% and at worse a 2.5%-3.0% growth rate for 2015. However, any growth rate over 2% should be sufficient for the Thai economy as it now teeters on deflation but that will delay any significant economic recovery well into 2016.

[MauiSteveBKK]

ACTIONS - NOT WORDS. I wish he'd openly "court" USA, Australia, and European markets - and actively encourage tourists and visitors and investments from every country. Get out and make a few sale calls on countries -- let actions be more than just your words.

Quit Talking - Start Doing!

Now, More Is Said Than Done.

[LuckyLew]

well at least he has something in common with Yingluck now

she single-handedly ruined the rice industry and he single-handedly ruined the tourist industry

Little wonder Thailand is f***ed

He did not single handedly ruin the tourism industry. He helped but a lot of others helped too. Corrupt cops, corrupt leaders in tourist areas of Thailand to mame a few. Thailand has a good thing but greed won them over and now they are wondering why

Numbers are down.

[tullynagardy]

I wish everyone would stop saying the world economy is in recession as a rationale for the failure of the junta. It`s simply not true.

http://en.wikipedia.org/wiki/List_of_countries_by_real_GDP_growth_rate

Virtually all Thailands neighbours, and natural export partners, (Laos, Cambodia, Burma, China, Phillipines) are experiencing huge growth rates as my link shows. Even in the Western world the UK and USA are both growing at a good rate with employment numbers growing by the month.

The truth is Thailand is floundering amongst its better performing neighbours who are stealing jobs from them every day. Even the mainstays of the Thai export economy such as Automotive are looking to move to the countries mentioned above.

With ASEAN around the corner Thailand needs an economically astute government to fight increasingly sophisticated competition. Alas, it has Prayuth making daily speeches about the content of Lakorn and other more pressing matters.

Lets not make excuses, they are hopeless. Myself (and many others here) predicted back in May Thailand was going from the frying pan and into the fire. Turns out the fire is even worse than we thought.

[yellowboat]

Most of Thailand's neighbors appear to be more welcoming and better behaved as of late. Truly feel sorry for the people I deal with in Thailand. They do not seem happy

[GinBoy2]

Time for yet another official, without doubt, unequivocal, without any margin of error poll which seem to be the order of the day:

100%: agree the Thai economy will grow 20% next year

99.99% agree that exports are poised for an extraordinary rebound next year

98.786%: agree that inward investment will boom next year due to liberal investment policies ordained by junta Government

97.674%: agree that foreign investment will be driven by anti corruption measures, yet to be delivered, but oh so promised

200%: agree I have the biggest penis on the planet.

Oh you gotta laugh sometimes

[chotthee]

Then why is the Thai baht so strong???

Because it is made from real metals.

[tullynagardy]

If they spent more time actioning real policies that genuinely stimulated investment, and less time spouting propaganda and launching purges against certain groups, the economy might be performing better.

As usual there is nothing of substance to his speech, no detail, just the usual promise "things will get better so stick with me."

The honeymoon is over Prayuth, you need to start delivering.

Like any other nation in the world is doing better. Stop being such a nay sayer.

Have a look at my post above. Just about all Thailands neighbours are doing much better.

As for worldwide countries doing better, the vast majrity of world countries are growing so they are doing better also than stagnating Thailand also.

The economy is a mess.

[yellowboat]

Soon we will see if they have any idea what they are doing. Most have already come to a conclusion.

[fish fingers]

you aint seen nothing yet...look whats going on in Indo and thats where most of the Japanese Car manufacturers are re-locating to

Which ones are re-locating? I for one have not heard of any carmaker moving out and shutting down Thai operations. In fact, many of them have put very large investments in during 2014.

well at least he has something in common with Yingluck now

she single-handedly ruined the rice industry and he single-handedly ruined the tourist industry

The world's Number One rice seller has no tourists? If you don't mean that, what do you mean? I truly do not understand your claims, since both the rice industry and the tourist industry are making more today than a year and five years ago (to pick arbitrary comparisons; feel free to pick your own)..

.

No idea what drugs you are on

I'm glad you're not my stockbroker put it this way

http://www.thairiceexporters.or.th/Int%20news/News_2014/int_news_081214-1.html

http://www.mizzima.com/mizzima-news/regional/item/15291-immigration-figures-show-thai-tourism-decline/15291-immigration-figures-show-thai-tourism-decline

[ggt]

Be very careful investing in equities and commodities at this time...the world may be poised for a move into deflation...where economies and currencies free fall and stay down for the next few years...investing in stocks and commodities are always a gamble...the odds appear to be stacked against you winning in this arena for the foreseeable future...