3 Things that will make your relationship successful in Thailand

[Lite Beer]

ECONOMIC CONFIDENCE
Pridiyathorn strikes note of optimism
ERICH PARPART
THE SUNDAY NATION

BANGKOK: -- CONFIDENT THAI ECONOMY CAN WEATHER THE CRISES IN CHINA, GREECE AND THE DROUGHT

EXTERNAL turbulence will not affect Thailand's exports as demand for Thai products from Turkey, China and Greece will continue despite the delay in reaching a free-trade agreement with Turkey, the slump in China's capital market and Greece's potential exit from the EU, Deputy Prime Minister MR Pridiyathorn Devakula has said.

Pridiyathorn also said the drought, exacerbated by the El Nino weather effect, posed a minimum risk to the purchasing power of farmers as the number of farmers who could be gravely affected was small.

"The biggest concern right now is the lack of confidence which is currently hampering domestic consumption. Consumers and businesses have more money than last year but they are not spending," he told reporters at the Economic Reporter Competency Development Project, organised by the Economic Reporters Association yesterday.

"The global economy is currently weak so the more money we put into stimulus, the more money will go to waste. Therefore, what we can do right now is put a plug on our weaknesses, and our biggest weaknesses right now are rice and rubber farmers who have been hit by low global demand and the drop in oil prices, which has dragged crop prices down with them," he said.

He explained that the delay in signing an FTA deal with Turkey would not affect trade between the two countries and he was confident Thai companies in Turkey "should be able to cope with the situation" since "Turks are not Thailand's enemy and not all of them will hate us for this small incident as we are a friendly nation".

Pridiyathorn said the drop in China's capital market would not affect Chinese demand for Thai products since the people affected by the slump were mostly equity investors - not manufacturers and mass consumers.

Meanwhile, the Kingdom's financial ties with Greece were close to non-existent, he said, in reference to the potential impact a Greek exit from the EU and the likelihood of an impact on the Thai economy.

"The delay in the FTA will have no effect on regular trading activities between Thailand and Turkey, as traders from the two countries are still in contact with each other," he said.

Pridiyathorn said the government's first round of cash handouts to around 850,000 rubber farmers and 3.3 million rice farmers - worth Bt48.5 billion in total - and measures aimed at lowering their production costs and providing more access to finance had helped farmers by lowering the chance of them falling into more debt.

They were now "able to stand on their own feet once again".

"We are hearing less complaints from the rubber farmers because the subsidies and the measures helped. And if the rice starts dying from the lack of water then we will help the farmers who are affected by any means possible, although their numbers are small compared to all the rice farmers in Thailand," he said.

The government estimates that around 1.1 million rai (435,000 acres) of rice paddy fields within the Chao Phraya River basin's irrigation zone will experience a shortage of water from the prolonged drought.

There are roughly 63 million rai of rice paddy fields and 55 million rai are located outside of the irrigation zone, with most of those farmers have delayed planting while waiting for rain.

The deputy prime minister concluded his speech by saying the government's public relation team and the press had to work together to "set the tone" and build up domestic confidence.

He said he was confident the economy would expand by more than 3 per cent this year after gross domestic product grew 3 per cent in the first quarter.

"Once confidence is restored and domestic consumption, which is one of the largest bases of GDP, recovers, Thailand's economic expansion will improve," he said.

Source: http://www.nationmultimedia.com/politics/Pridiyathorn-strikes-note-of-optimism-30264275.html

-- The Nation 2015-07-12

[Mango Bob]

Replacing Pridiyathorn would do much to restore peoples confidences in the economy

[phoenixdoglover]

"our biggest weaknesses right now are rice and rubber farmers who have been hit by low global demand and the drop in oil prices, which has dragged crop prices down with them,"

"Once confidence is restored and domestic consumption, which is one of the largest bases of GDP, recovers, Thailand's economic expansion will improve," he said.

So the problem is low commodities prices due to international factors, and growth in domestic consumption is the solution.

Eat more rice, everybody.

[Srikcir]

"Turks are not Thailand's enemy and not all of them will hate us for this small incident as we are a friendly nation".

One of Devakula's greatest weakness is having a good grasp on reality.

[Thai at Heart]

"our biggest weaknesses right now are rice and rubber farmers who have been hit by low global demand and the drop in oil prices, which has dragged crop prices down with them,"

"Once confidence is restored and domestic consumption, which is one of the largest bases of GDP, recovers, Thailand's economic expansion will improve," he said.

So the problem is low commodities prices due to international factors, and growth in domestic consumption is the solution.

Eat more rice, everybody.

The majority of the Thai economy is export driven.....so domestic consumption is not one of the major drivers.

There are only a few economic drivers. C+I+G(x-m)

If this numpty doesn't even know what really drives his economy there is big big trouble.