Dept PM presents Thai Govt's economic accomplishments

[webfact]

Dept PM presents Govt's economic accomplishments

BANGKOK, 25 December 2014 (NNT) – The Deputy Prime Minister today revealed government’s economic accomplishments in the past three months, expressed optimistic expectation on the national GDP growth.

The Deputy Prime Minister for Economy M.R. Pridiyathorn Devakula disclosed the government economic accomplishments, stating that the country’s economy is constantly expanding with the Gross Domestic Product (GDP) value expected to expand by 3 percent within this quarter.

He said that the expansion of the GDP is due to the disbursement under the economic stimulus plan for the 70 billion baht budget, the increased domestic consumption, and the increase in investments from the business sector.

With these conditions, the government will be focusing on the short-term economic stimulus for January - February 2015 which will help expand the economy and drive the GDP rate to expand further to 4 percent, said the Deputy PM.

The Deputy Prime Minister also pointed that the government has been helping the agricultural sector with the 40 billion baht aid fund, which is expected to be paid to the farmers in its budget's entirety within this month, while the Ministry of Commerce has released 1.2 million tons of in-stock rice with measures to prevent rice price decline.

Regarding the rubber price issue, the Deputy Prime Minister said that the government is also working on the helping fund for rubber farmers that is also expected to be completely distributed by the end of this month.

He said that the government has also offered loans for individual farmers to improve their rubber farm, and come up with measures to stimulate domestic rubber usage. Meanwhile, China has agreed to establish 10 beery tire factories in Thailand with the expected order of 1 million tons of rubber.

He stated that the price for rubber will increase and become stable within the next 2-3 years, and the price might even reach 60 baht per kilogram later this year.


-- NNT 2014-12-25

[z42]

And not to mention those incredible economic achievements with the govt house microphones and school futsal pitches.......

[Torrens54]

Top Marks to the Government.

Hope it retains power long enough to wipe out all the corruption that was killing Thailand, in the days of a certain CORRUPT individual along with his family and hangers-on.

[Thai at Heart]

establish 10 beery tire factories in Thailand

What the hell is a beery tyre?

[noitom]

This Thai "disclosed" the economic accomplishments, he didn't just "report." Thais consider it a disclosure when the public is informed. If you don't listen to Thais you will be uninformed, but if you listen to Thais, you will be misinformed.

[Thailand]

And they are proud of this why?

[BradinAsia]

Dept is not an abbreviation for Deputy, but for Department. Who writes this stuff?

[h90]

And not to mention those incredible economic achievements with the govt house microphones and school futsal pitches.......

yes with the house microphones what happened?

[HeijoshinCool]

He stated that the price for rubber will increase and become stable within the next 2-3 years, and the price might even reach 60 baht per kilogram later this year.

​Four, three, two, one ….

[whybother]

And not to mention those incredible economic achievements with the govt house microphones and school futsal pitches.......

What does the futsal pitches have to do with this government?

[pisico]

Dept is not an abbreviation for Deputy, but for Department. Who writes this stuff?

A Thai English "teacher", full of Thainess...

[pisico]

And not to mention those incredible economic achievements with the govt house microphones and school futsal pitches.......

What does the futsal pitches have to do with this government?

...Has everything to do with this government and all the previous administrations: SAME SAME NO DIFFERENT. Next !!!

[rickirs]

Just too many silly statements to account for but I'll touch on one "accomplishment."

"He stated that the price for rubber will increase and become stable within the next 2-3 years, and the price might even reach 60 baht per kilogram later this year."

The Thailand government has recently sold 400,000 tons of rubber sheet (RSS3) to the Chinese at Bt60/kg to be delivered in 18 months. That is higher oddly than the present market price as of December 24, 2014 for RSS3 at Bt55.75/kg (http://www.irco.biz/Cprices-th.php). But the Chinese deal reflects the recent agreement between Thailand, Indoneasia, Malaysia, Myanmar, Laos, Cambodia, and Vietnam to increase the natural rubber price to Bt60 per kilogram in 18 months. With China paying higher than current market price it would appear that the sale is both a diplomatic and economic success story for the Junta.

BUT

The cost of production for Thai farmers is Bt64/kg. Looks like the NCPO is no "Junta Claus."

The Southern rubber farmers supported the PDRC anti-government protests that year in hopes of a military coup that would raise rubber prices. And so it did with the Cabinet approving a Bt10-billion budget to shore up the price of concentrated latex. The Government even created a new subsidy for the farmers making a one-time payment of Bt1,000 per rai that will cost the State Bt8.7 billion. The government will also spend Bt62.1 million to be spent on IT system and rubber silo development.

But now the Southern rubber farmers have recently demanded the Government buy their products at 80 baht/kg which will give them a sustainable 30% profit margin or they will stage a mass protest in January 2015.

HAPPY NEW YEAR JUNTA

Edited December 26, 2014 by rickirs

[metisdead]

A post containing profanities has been removed.

[whybother]

And not to mention those incredible economic achievements with the govt house microphones and school futsal pitches.......

What does the futsal pitches have to do with this government?

...Has everything to do with this government and all the previous administrations: SAME SAME NO DIFFERENT. Next !!!

So you want to blame all governments for all decisions of previous governments. That makes a lot of sense .... NOT.

[Robby nz]

And not to mention those incredible economic achievements with the govt house microphones and school futsal pitches.......

What does the futsal pitches have to do with this government?

What it has to do with them whybother is that the is that they are actually investigating the corruption and substandard work and material that went into the pitches.

Which as anyone who has been following things knows, was ordered by PT MP's in the provinces they represented, like it was supposed to be some sort of reward to the people who elected them.

Had PT still been in power then there would have been no investigation and the useless pitches would have just sat there as a testimony (as if more was needed) to greed, corruption and arrogance.

[Eric Loh]

Dear PM. I suggest that you order your ministers to leave their cosy office and come down to ground zero to see the real economic situation. Don't surround yourself with yes men who only tell you the news that you want to hear. You have not done enough to stimulate the domestic economy and the mom and pop shops and restaurants are finding extremely hard to made ends meet and are closing down more rapidly than ever before. You seem to be just putting out fire when the noise from the people like the rubber farmers become too loud. You should be ahead of the curve and have better and more comprehensive policies to help the domestic economy. For starter, lift the martial law ASAP. Thank you.

[Baerboxer]

And they are proud of this why?

Because it's a vast improvement on the previous administration.

Do you remember, every government is supposed to present its accomplishments after 12 months. Ms Yingluck had to be reminded and prompted several times before confirming her, or her brother's to be more precise, regime had accomplished bugger all.

However, Thaksin did reveal proudly to Forbes that the Shin family wealth pot had increased 450% whilst little sis was PM/DM.

The current government are at least attempting to provide more information, which given the ultra secretive nature of the Shins to divulging anything other than lies and propaganda is an improvement.

[Baerboxer]

Just too many silly statements to account for but I'll touch on one "accomplishment."

"He stated that the price for rubber will increase and become stable within the next 2-3 years, and the price might even reach 60 baht per kilogram later this year."

The Thailand government has recently sold 400,000 tons of rubber sheet (RSS3) to the Chinese at Bt60/kg to be delivered in 18 months. That is higher oddly than the present market price as of December 24, 2014 for RSS3 at Bt55.75/kg (http://www.irco.biz/Cprices-th.php). But the Chinese deal reflects the recent agreement between Thailand, Indoneasia, Malaysia, Myanmar, Laos, Cambodia, and Vietnam to increase the natural rubber price to Bt60 per kilogram in 18 months. With China paying higher than current market price it would appear that the sale is both a diplomatic and economic success story for the Junta.

BUT

The cost of production for Thai farmers is Bt64/kg. Looks like the NCPO is no "Junta Claus."

The Southern rubber farmers supported the PDRC anti-government protests that year in hopes of a military coup that would raise rubber prices. And so it did with the Cabinet approving a Bt10-billion budget to shore up the price of concentrated latex. The Government even created a new subsidy for the farmers making a one-time payment of Bt1,000 per rai that will cost the State Bt8.7 billion. The government will also spend Bt62.1 million to be spent on IT system and rubber silo development.

But now the Southern rubber farmers have recently demanded the Government buy their products at 80 baht/kg which will give them a sustainable 30% profit margin or they will stage a mass protest in January 2015.

HAPPY NEW YEAR JUNTA

From the poster who believes in Yingluck and the PTP - there are no quality or quantity problems with the rice scheme, all the G2G orders were true and genuine; it was a self financing scheme which will probably show a profit when it finally closes and the books are audited; we wanted to pay the farmers........ honest;

Hope you had a nice Christmas and Santa bought lots of prezzies.

[pisico]

And not to mention those incredible economic achievements with the govt house microphones and school futsal pitches.......

What does the futsal pitches have to do with this government?

...Has everything to do with this government and all the previous administrations: SAME SAME NO DIFFERENT. Next !!!

So you want to blame all governments for all decisions of previous governments. That makes a lot of sense .... NOT.

You have to stop drinking Kool-aid so early in the day. Corruption is endemic in this hierarchical society. Feudal would be a more appropriate word.

Money has been diverted, wasted and outright stolen by all administrations because there is no accountability. Clocks, bomb detectors, overly priced microphones, Footsal arenas and much more are the norm rather than the exception. From before Thaksin to Abhisit and the current administration that seems to continue since there is no transparency. The deck is stacked against those who are not in the usual click of suspects in the Khrung Thep elite.

Your defense of all the past administration reveals a lingering haze in your judgement.

[whybother]

You have to stop drinking Kool-aid so early in the day. Corruption is endemic in this hierarchical society. Feudal would be a more appropriate word.

Money has been diverted, wasted and outright stolen by all administrations because there is no accountability. Clocks, bomb detectors, overly priced microphones, Footsal arenas and much more are the norm rather than the exception. From before Thaksin to Abhisit and the current administration that seems to continue since there is no transparency. The deck is stacked against those who are not in the usual click of suspects in the Khrung Thep elite.

Your defense of all the past administration reveals a lingering haze in your judgement.

You have to stop drinking the kool-aid if you think I'm defending past administrations.

Yes, all administrations are corrupt. But that doesn't mean you can blame each of them for the corrupt schemes of other administrations. That's just stupid.

[Diplomatico]

Guess he was wrong regarding that robust GDP growth prediction:

"Thailand's central bank said the country's economy will barely grow this year and expand less in 2015 than earlier forecast, thanks mainly to how its growth engine of exports is still sputtering. The Bank of Thailand (BOT) on Friday cut its 2014 economic growth projection to 0.8 percent from 1.5 percent. The new year's forecast was reduced to 4.0 percent from 4.8 percent.

Exports will shrink 0.5 percent this year, the central bank said, and only rise 1 percent in 2015, rather than the earlier-seen 4 percent.

November trade data released on Friday showed how poorly exports are faring. The Commerce Ministry said exports - equal to more than 60 percent of GDP - last month contracted 1 percent from a year earlier, far worse than the 3.6 percent expansion a Reuters poll expected. Exports to Japan were 10.7 percent below a year earlier while those to China tumbled 18.7 percent.

Thailand's export woes have been a big factor in economic recovery not getting on track after the army seized power in May.

Domestic demand remains subdued while tourism, badly hit by unrest, is recovering slowly."

http://www.cnbc.com/id/102297056#.

[tullynagardy]

The Deputy Prime Minister for Economy M.R. Pridiyathorn Devakula disclosed the government economic accomplishments, stating that the country’s economy is constantly expanding with the Gross Domestic Product (GDP) value expected to expand by 3 percent within this quarter.

Expected by who?

The central bank in Thailand has slashed it`s forecasts and says the economy has stagnated http://www.cnbc.com/id/102297056#.

FDI is down a staggering 38% http://www.nasdaq.com/article/thailands-tiger-economy-is-no-longer-roaring-cm414521

(in 2013 under PTP it grew 21% http://www.nationmultimedia.com/business/FDI-in-Thailand-up-21-in-2013-30244041.html)

Add in the fact tourist numbers are down by 10% http://www.ttrweekly.com/site/2014/12/dreadful-year-for-thailands-tourism/ and it aint a pretty picture.

These blatant lies fool no one, the economy is in a mess and it`s getting worse.

Edited December 27, 2014 by tullynagardy

[rubl]

The Deputy Prime Minister for Economy M.R. Pridiyathorn Devakula disclosed the government economic accomplishments, stating that the country’s economy is constantly expanding with the Gross Domestic Product (GDP) value expected to expand by 3 percent within this quarter.

Expected by who?

The central bank in Thailand has slashed it`s forecasts and says the economy has stagnated http://www.cnbc.com/id/102297056#.

FDI is down a staggering 38% http://www.nasdaq.com/article/thailands-tiger-economy-is-no-longer-roaring-cm414521

(in 2013 under PTP it grew 21% http://www.nationmultimedia.com/business/FDI-in-Thailand-up-21-in-2013-30244041.html)

Add in the fact tourist numbers are down by 10% http://www.ttrweekly.com/site/2014/12/dreadful-year-for-thailands-tourism/ and it aint a pretty picture.

These blatant lies fool no one, the economy is in a mess and it`s getting worse.

A misrepresentation of facts.

Now of course when Thailand's export machine falters because the countries it exports to also falter, that's the fault of the NCPO, according to some that seems.

Mid-January we may expect new figures on the fourth quarter, then we'll know.

[metisdead]

A post containing paid to post allegations has been removed, if you have proof a member is paid to post, forward to support, otherwise allegations of this nature are a pretty lame debating technique. Further allegations of this nature may be rewarded with a posting suspension.

[tullynagardy]

Anyway 'raw numbers' have limited meaning. It's when put them in perspective that the data is turned into information.

What perspective is that? You shifted blame to Thailands export partners, yet can`t actually name one whos economy is in recession or has a reason to import less. They aren`t importing less, they are importing from elsewhere. Figures to back it up are easily had.

FDI is a very simple figure, there isn`t really much to debate. The amount of companies investing in Thailand is plummeting because of the junta.

You sound like a desperate politician trying to put a positive spin on an awful situation, why you want to do this is a mystery.

The one thing the junta have at their disposal is public spending to boost growth and unlike a real democratic government they don`t need to worry about passing it through the senate etc. As it turns out it has been woefully low, probably because Prayuth and his mates are pocketing it judging by their bank balances.

[Boxclever]

And they are proud of this why?

Because it's a vast improvement on the previous administration.

Do you remember, every government is supposed to present its accomplishments after 12 months. Ms Yingluck had to be reminded and prompted several times before confirming her, or her brother's to be more precise, regime had accomplished bugger all.

However, Thaksin did reveal proudly to Forbes that the Shin family wealth pot had increased 450% whilst little sis was PM/DM.

The current government are at least attempting to provide more information, which given the ultra secretive nature of the Shins to divulging anything other than lies and propaganda is an improvement.

So when is the junta chief going to disclose all HIS assets and that of his families?? What's good for the gander is good for the goose right?

[whybother]

Anyway 'raw numbers' have limited meaning. It's when put them in perspective that the data is turned into information.

What perspective is that? You shifted blame to Thailands export partners, yet can`t actually name one whos economy is in recession or has a reason to import less. They aren`t importing less, they are importing from elsewhere. Figures to back it up are easily had.

FDI is a very simple figure, there isn`t really much to debate. The amount of companies investing in Thailand is plummeting because of the junta.

You sound like a desperate politician trying to put a positive spin on an awful situation, why you want to do this is a mystery.

The one thing the junta have at their disposal is public spending to boost growth and unlike a real democratic government they don`t need to worry about passing it through the senate etc. As it turns out it has been woefully low, probably because Prayuth and his mates are pocketing it judging by their bank balances.

Have you seen their bank balances?

In one sentence you're saying the junta has public spending at their disposal because they don't have to worry about getting it checked, and the next you say they haven't spent enough. Do you think they should be spending to boost growth or not? Make up your mind.

[whybother]

And they are proud of this why?

Because it's a vast improvement on the previous administration.

Do you remember, every government is supposed to present its accomplishments after 12 months. Ms Yingluck had to be reminded and prompted several times before confirming her, or her brother's to be more precise, regime had accomplished bugger all.

However, Thaksin did reveal proudly to Forbes that the Shin family wealth pot had increased 450% whilst little sis was PM/DM.

The current government are at least attempting to provide more information, which given the ultra secretive nature of the Shins to divulging anything other than lies and propaganda is an improvement.

So when is the junta chief going to disclose all HIS assets and that of his families?? What's good for the gander is good for the goose right?

Right. That's why he declared his assets in October.

[candide]

The Deputy Prime Minister for Economy M.R. Pridiyathorn Devakula disclosed the government economic accomplishments, stating that the country’s economy is constantly expanding with the Gross Domestic Product (GDP) value expected to expand by 3 percent within this quarter.

Expected by who?

The central bank in Thailand has slashed it`s forecasts and says the economy has stagnated http://www.cnbc.com/id/102297056#.

FDI is down a staggering 38% http://www.nasdaq.com/article/thailands-tiger-economy-is-no-longer-roaring-cm414521

(in 2013 under PTP it grew 21% http://www.nationmultimedia.com/business/FDI-in-Thailand-up-21-in-2013-30244041.html)

Add in the fact tourist numbers are down by 10% http://www.ttrweekly.com/site/2014/12/dreadful-year-for-thailands-tourism/ and it aint a pretty picture.

These blatant lies fool no one, the economy is in a mess and it`s getting worse.

A misrepresentation of facts.

Now of course when Thailand's export machine falters because the countries it exports to also falter, that's the fault of the NCPO, according to some that seems.

Mid-January we may expect new figures on the fourth quarter, then we'll know.

All sources converge on a GDP growth rate of not more than 1% in 2014, i.e.

http://englishnews.thaipbs.or.th/2014-growth-now-1

compared to an intial forecast of 4.0 to 5.2%, made at the end of 2013 by different institutions

http://www.mfa.go.th/business/contents/files/eco-factsheet-20131220-100445-235435.pdf

There is no magic stick allowing to transform this figure in a 3% GDP growth. If corrections are made in january, it would no be more than +/- 0.3%.

I think the Dep PM has confused 0.3% with 3%