Finance Minister: the growth rate will stay at 5.5% over the next 20 years

Finance Minister Thanong Bidaya (ทนง พิทยะ) has set a target for Thailand’s economy to expand at 5.5 percent over the next 20 years.

Mr. Thanong gave a speech in the annual academic seminar of the Fiscal Policy Office (FPO). He said the national economy and political situation are changing and the government must be prepared in different areas so Thailand can compete with other countries. He suggested that the government should readjust organization chart of certain departments, urgently eliminate poverty, locate capital sources, and reduce taxes. He said that these measures will help increase people's revenues from 120,000 per baht per person per year to 400,000 baht per person per year.

Besides, the figure of Gross Domestic Product (GDP) will climb up to 26 trillion baht, while the agricultural sector will share 7.5 percent of the national income.

According to these expected figures, the Finance Minister believes that Thailand will not be a developing country over the next 20 years.

Source: Thai National News Bureau Public Relations Department - 11 September 2006

Well, I supposes that an average inflation rate of 5.5% over 20 years could, in the hands of the right spin doctor, be touted as having met Finance Minister Thanong Bidaya's expectations.

I wonder why he limited himself to only 20 years? Why not 30 or 50 or 70 years?

Finance Minister: the growth rate will stay at 5.5% over the next 20 years

Finance Minister Thanong Bidaya (ทนง พิทยะ) has set a target for Thailand’s economy to expand at 5.5 percent over the next 20 years.

Mr. Thanong gave a speech in the annual academic seminar of the Fiscal Policy Office (FPO). He said the national economy and political situation are changing and the government must be prepared in different areas so Thailand can compete with other countries. He suggested that the government should readjust organization chart of certain departments, urgently eliminate poverty, locate capital sources, and reduce taxes. He said that these measures will help increase people's revenues from 120,000 per baht per person per year to 400,000 baht per person per year.

Besides, the figure of Gross Domestic Product (GDP) will climb up to 26 trillion baht, while the agricultural sector will share 7.5 percent of the national income.

According to these expected figures, the Finance Minister believes that Thailand will not be a developing country over the next 20 years.

Source: Thai National News Bureau Public Relations Department - 11 September 2006

Can any other country beat Thailand for the sheer volume of idiotic statements by politicians?

I wonder why he limited himself to only 20 years? Why not 30 or 50 or 70 years?

The same reason why folks around here like to predict that the economy is going to crash "soon." When one is vague, no one is going to call them on it.

Finance Minister: the growth rate will stay at 5.5%

I think Baghdad Bob is in Thailand

Can any other country beat Thailand for the sheer volume of idiotic statements by politicians?

How about a thread devoted to looney statements from Thai politicians? I'll start'

Bangkok Post last week some caretaker airport somebody, when asked about the danger of a 12 story tower with multiple antenna on the roof, with no red warning lights that is in the landing pattern of the new airport? Wait for it.... "It is not a problem because we hardly use that runway any way." <deleted>?? The new airport(airport code NBK by the way) has only 2 runways and they will both be used continiously and similtaniously to the tune of 70 cycles per hour. How do these moon shots get away with these crazy statements?

P