Thai Deputy PM Pridiyathorn confident of 3-4% economic growth

[webfact]

Pridiyathorn confident of 3-4% economic growth



BANGKOK: -- Deputy prime minister in charge of economic affairs MR Pridiyathoirn Devakula expressed confidence that the country could see economic growth of 3-4% this year.

He attributed the GDP growth to contributing factors such as government investments in infrastructure projects.

Export figures in the last quarter of this year could also rise and add to the GDP growth as the result of the weakening baht, he said.

(Photo : Thai PBS File)

Source: http://englishnews.thaipbs.or.th/pridiyathorn-confident-of-3-4-economic-growth

-- Thai PBS 2015-06-18

[davehowden]

This guy knows his onions?

As Minister Of Finance::

"Pridiyathorn instituted capital controls to attempt to reverse a strengthening of the baht, but reversed the measure after the Thai stock market crashed, destroying US$20 billion of market value in one day.

Pridiyathorn later noted that “This was not a mistake.""

Source: Wikipedia

[Thai at Heart]

So confident he needs a 25% spread

[bangkokfrog]

He expressed confidence that the country could see economic growth of 3-4% this year.

He said that export figures in the last quarter of this year could also rise and add to the GDP growth as the result of the weakening baht.

Everything we hear these days is government speak... this could happen, a dubious survey proves that people in Thailand are happy about their lot, etc.

Sadly, I predict that many people in Thailand will lose their farms, cars etc. this year because of past and current government mismanagement of the economy.

Let's see who is right !!!

[webfact]

Deputy PM blames former govt for economic woes

BANGKOK, 18 June 2015 (NNT) – Deputy Prime Minister for economic affairs M.R. Pridiyathorn Devakula has told the business sector and the general public to brace themselves for the ongoing sluggish economy, which may take a year to recover.

M.R. Pridiyathorn blamed the ongoing economic slowdown on the previous administration, which enacted controversial programs including the first-car project and the rice pledging scheme.

M.R. Pridiyathorn said the economy in the second half of the year would continue its downward trend and that the economy may take about a year to pick up.

The Deputy PM predicted that the domestic economy would start to recuperate in September. The 2014-2015 Gross Domestic Product (GDP) would reach 3-4 percent, due mainly to government spending and rebounding tourism.

However, the Deputy PM revealed that the country’s economy could not rely on the export sector, since operators have been struggling with stiff competition. He believed that product research & development should push GDP up to 5 percent.


-- NNT 2015-06-18

[JoePai]

Don't worry, the next administration will blame you for the economic problems when they come to power

[little mary sunshine]

And Santa will be here on Christmas Eve.

[quandow]

The LYING GARBAGE spewing out of their cake holes reaches new tall, stinking levels.

[Ichabod]

Pridyathorn - often wrong, never in doubt. A consistent anti-democrat leading up the coup. Failed to disburse allocated govt budget last year depriving economy of munch-needed stimulus. Good example of an incompetent aristocrat whose only route to power is a military take-over. Twice.

[Srikcir]

“M.R. Pridiyathorn blamed the ongoing economic slowdown on the previous administration”

The previous administration hasn't had control of the economy since essentially September 2013 given the political paralysis caused by the Democrats, the PDRC and the military coup. Gen. Prayut takes a little more circumspetive viewpoint saying, "recovery is being impeded by the slowdown in people’s spending and uncertainties in the world economy." 2015-06-06

In an attempt to prop up market prices for agricultural products, Gen. Prayut has implemented the same kind of POPULIST POLICIES used by Yingluck by spenting billions of baht in cash subsidies, loan forgiveness and uncollateralized low-interest loans for farmers. But obviously his economic policies have had no success to alter continued decreased world demand and increased competition to raise prices that can profitably sustain Thailand's agricultural industry.

If Pridiyathorn can't take responsibility for Thailand's current economic crisis, why is he still Deputy Prime Minister for economic affairs?

[Srikcir]

“M.R. Pridiyathorn blamed the ongoing economic slowdown on the previous administration”

Of course Pridiyathorn is not going to cross Chief of the NCPO and PM Prayut by admitting that the Prayut administration should take some blame for Thailand's current economic crisis. Perhaps a more independent viewpoint comes from Tony Nowell, chairman of the Asean New Zealand Business Council (Thailand's tenth largest trading partner}:

“Thailand would become less attractive to manufacturers because of the political uncertainty….We expect the issue to be democracy.”

The Nation 2015-06-02

Edited June 19, 2015 by Srikcir

[rubl]

And Santa will be here on Christmas Eve.

One of the only facts I've read here so far

[rubl]

“M.R. Pridiyathorn blamed the ongoing economic slowdown on the previous administration”

The previous administration hasn't had control of the economy since essentially September 2013 given the political paralysis caused by the Democrats, the PDRC and the military coup. Gen. Prayut takes a little more circumspetive viewpoint saying, "recovery is being impeded by the slowdown in people’s spending and uncertainties in the world economy." 2015-06-06

In an attempt to prop up market prices for agricultural products, Gen. Prayut has implemented the same kind of POPULIST POLICIES used by Yingluck by spenting billions of baht in cash subsidies, loan forgiveness and uncollateralized low-interest loans for farmers. But obviously his economic policies have had no success to alter continued decreased world demand and increased competition to raise prices that can profitably sustain Thailand's agricultural industry.

If Pridiyathorn can't take responsibility for Thailand's current economic crisis, why is he still Deputy Prime Minister for economic affairs?

Somehow the dates you provide are always a bit suspect.

The previous administration hasn't had control over the economy since essentially September 2013 as they were just told by the BACC to need another few hundred billion Baht for the RPPS, as they were really busy with the Blanket Amnesty Bill, etc., etc.

As for same 'cash subsidies', the RPPS wasn't a subsidy and the Prayut government only honored whatever obligation their had 'inherited'. The cash subsidies like limited direct support are included in the National Budget as subsidies should be.

BTW you almost seem to blame the Prayut government for not being able to influence world demand and competition. Strange I never heard you about the games the previous government played with their self-financing RPPS, betting on dominance and losing 700 billion Baht.

Oh, your question at the end, maybe the current Dept. PM rather try to solve the economical mess the previous government left?

[clockman]

According to the fortune teller!