Stimulus policies 'igniting Thai economy'

[webfact]

Stimulus policies 'igniting economy'
The Nation

BANGKOK: -- The government is satisfied with the effect its economic stimulus packages are having on the lower northeastern provinces and Prime Minister Prayut Chan-o-cha wants to visit provinces more often to see the impact of his policies firsthand, government spokesman Maj-General Sansern Kaewkamnerd said yesterday.

Prayut visited villagers in the Don Mod Daeng district in Ubon Ratchathani last week to monitor the impact of government policies there as part of the "a state of the people" mission.

The Prayut-coined term 'Pracha Rat', or 'a state of people', relates to a serious economic policy initiative to boost the public's potential. The PM denied the move was populism.

Sansern said the stimulus packages had boosted the economies of the lower northeastern provinces 2.5 per cent this year and that figure was expected to climb to 4.2 per cent next year.

The Bt5 million Tambon Fund and Bt1 million Village Fund helped generate more jobs and boost consumption and resulted in Bt5 billion being pumped into the economy, he said. As a result, private consumption this year was forecast to rise 5.6 per cent and 7.8 per cent next year, he said.

During the trip to inspect the impact of the stimulus packages in the lower northeast, Deputy Prime Minister Somkid Jatusripitak reportedly told his close aides that Pracha Rat had ignited the economies.

Source: http://www.nationmultimedia.com/politics/Stimulus-policies-igniting-economy-30273013.html


-- The Nation 2015-11-16

[eliotness]

Ignite is a very strong word to use re. the economy. Not seen any fire in lower Isaan, rather the reverse, with agricultural prices continuing to drop, farmers going further in debt, soldiers checking on land encroachment and seizing farmland, all on top of a poor wet season.

[onni4me]

As a result, private consumption this year was forecast to rise 5.6 per cent and 7.8 per cent next year, he said.

So, in economic downturn some stimulus suddenly creates a situation where people have 5.6 to 7.8 % more to spend? Is he talking about the whole economy or just the Isaan village heads that pocket most of the money?

i don't know what kind of mushrooms the guy likes to eat but the real GDP figures show no such increase.

http://www.tradingeconomics.com/thailand/gdp-growth

[ChrisY1]

When the free cash "igniting" the economy runs out....the whole lot will simply fizzle and return to the usual calls for more.!

[Eric Loh]

The other English newspaper said just the opposite and claimed the junta is bragging. Many villagers and local leaders have yet to see any aid even less any stimulus ignition. Anyway, the stimulus package has only recently introduced and comical for the PM to claim success so soon.

[jaywalker]

When the free cash "igniting" the economy runs out....the whole lot will simply fizzle and return to the usual calls for more.!

Reminds me of when I was a kid watching this idiot city boy trying to light a green log on fire by splashing gas on it, with zero understanding that it's kindling that gets a fire going.

[bangkapi]

Less government meddling would give better results. What is needed worldwide are sound currency policies.

[shirtless]

The stimulus is going where ,to a chosen few ,this will do nothing the phrase good money after bad comes to mind.

[elgordo38]

Ignite is a very strong word to use re. the economy. Not seen any fire in lower Isaan, rather the reverse, with agricultural prices continuing to drop, farmers going further in debt, soldiers checking on land encroachment and seizing farmland, all on top of a poor wet season

And what about the northern part of the country.

[elgordo38]

Less government meddling would give better results. What is needed worldwide are sound currency policies.

There are no more sound currencies left.

[eliotness]

Ignite is a very strong word to use re. the economy. Not seen any fire in lower Isaan, rather the reverse, with agricultural prices continuing to drop, farmers going further in debt, soldiers checking on land encroachment and seizing farmland, all on top of a poor wet season

And what about the northern part of the country.

The dear leader didn't go there or even mention it. Obviously they have not been ignited yet !!!

[fred Kubasa]

I see some tiny flumes of smoke but no ignition !

[somo]

I always thought the place would go up in smoke. Well done dear leader.

[Srikcir]

"Deputy Prime Minister Somkid Jatusripitak reportedly told his close aides that Pracha Rat had ignited the economies."

I wouldn't expect anything less from Prayut's newly appointed Somkid than words of crowning success for his boss's policies. However, even Somkid admitted that his village stimulus will take 3-4 months to see any improvement (The Nation 2015-08-28) and his entire stimulus package at best will only contribute 0.5% to GDP growth for 2015.

So there is yet no reality that current government economic polices are successful in any meaningful way. Somkid's cheerleading is premature.