More cash to be injected to stimulate economy



BANGKOK: -- The government will inject several hundred billion baht to stimulate economy in the first half of this year, deputy prime minister Somkid Jatusripitak said yesterday.

He assured of the cash injection as worries about both the sluggish domestic and world economies have caused the industrial confidence level to lower.

Dr Somkid said the government has planned to inject billions of baht worth of budget into the domestic economy to reform all economic aspects in order to sustain it in the first half of the year, including the provision of a budget of 35 billion baht to the village funds.

Meanwhile, a proposal would be presented to the Cabinet tomorrow to further approve a budget of 5.6 billion baht for infrastructure development projects, such as the development of broadband internet, as well as to improve the country’s potential for competition.

Then next week, the economic team would propose to the Cabinet to approve another budget of 160 billion baht to be used to provide loans for SME businesses and to solve drought problems, he said.

Source: http://englishnews.thaipbs.or.th/content/151404


-- Thai PBS 2016-02-18

40 baht to a USD here we come.

the development of broadband Internet.....that will be throttled

at the one gateway, A.K.A. the Great Firewall of Thailand.

regards worgeordie

the development of broadband Internet.....that will be throttled

at the one gateway, A.K.A. the Great Firewall of Thailand.

regards worgeordie

No worry. The country can hardly join two pieces of PVC pipe together much less implement a high complex technology.

you better hurry up as its almost March (you know half way of the first 6 Months)

Think I need to transfer cash out now?!

Throwing money around will not solve the economic problem. Most of the governments projects will stimulate the foreign labour market but not the economy.

"...improve the country’s potential for competition."

In order to accomplish this, they don't need to inject cash into the economy. They need to inject education into the school system.

40 baht to a USD here we come.

This news doesn't seem to have moved the needle much.

So the economy isn't going through the roof after all and what about the squillions all the tourists are supposedly spending ?

So the economy isn't going through the roof after all and what about the squillions all the tourists are supposedly spending ?

"squillions"

Ha!! That's just the kind of number they'd make up with a straight face too

deputy prime minister Somkid Jatusripitak said yesterday.... as worries about both the sluggish domestic and world economies have caused the industrial confidence level to lower.

nope that aint the problem

Listen like: "More credits for the RICHs!!!"

Edited February 18, 201610 yr by snowgard

Last year the government made massive injections of capital into the economy on the advice of Somkid and only achieved a 2.8% growth rate. Far short of the predicted 3.5-4% growth rate predicated by some of the Prayut regime for such capital infusion. Somkid even recognized such actions would only be "a drop in the ocean" and produced a short-term growth spike.

This year the government has yet to develop a long range plan that requires restructuring of the entire economy, It continues to seek short term, feel good results to enhance its image, ie., in preparation for political office in the next election. This strategy will only repeat last year's economic performance at best, assuming the global economic welfare does not further deteriorate - barring further unpredictability of the China, Russia and the Middle East economies, and Prayut's own amateurish meddling in economic affairs.

But rest assure. Prayut is willing to spend every last baht of the Thai people to improve the economy. Or he will have to retire to live a life of luxury.

Keep printing the money - hopefully pound to baht 54/55 soon - now 50.9 - nearly same as when arrived here

Keep printing the money - hopefully pound to baht 54/55 soon - now 50.9 - nearly same as when arrived here

The needle is not wavering much from 35.50-60 USA. When it does move it could be violent. It could be the old Mother Hubbards cupboard story again i.e. 1997. Only they know what the cupboard actually contains. Hope they can squeeze enough out for the subs and tanks.

Can't wait for the replay of 1997. Hulks of unfinished 'Mega' construction projects as a testament to power of nations in debt and institutionalized 'casino' betting by the Big Boyz of commerce who will keep repeating the mantra, "But, we never saw it coming!!!"

the development of broadband Internet.....that will be throttled

at the one gateway, A.K.A. the Great Firewall of Thailand.

regards worgeordie

No worry. The country can hardly join two pieces of PVC pipe together much less implement a high complex technology.

They'll probably start building the Great Firewall of Thailand with cinder-block until in dawns on them.......Ohhh, that kind of "firewall". Opps!

"...improve the country’s potential for competition."

In order to accomplish this, they don't need to inject cash into the economy. They need to inject education into the school system.

That's like saying the need to inject morality into Wall Street.

Did this guy not work with Thaksins government in the past?

I wonder if he is still working with him behind the scenes by the way he's throwing money around.

Edited February 18, 201610 yr by Rayk

With an artificially high currency (tied to the $) and no serious intention of domocractic government or elections ..he can pump all the money he likes into the economy with little gain where as his priority should be to attract inward investment ..but, as ever their ability to understand the real issues are lost in the 'Thai looking good ..saying the right thing' approach ...

Edited February 18, 201610 yr by rmacee

40 baht to a USD here we come.

This news doesn't seem to have moved the needle much.

It moved the needle today.

This is great news for the USD. Things such as this will perpetuate the Breton-Woods Accords a little longer.

The USD will not be the world's reserve currency forever.

The end is nigh, but moves like this just keep kicking the can down the road and add more puss to a festering worldwide boil that will explode like Krakatoa....And then it will reset into a system of gold backed currency.

Just read this article about China and it seems the same thing is happening here... http://www.aljazeera.com/indepth/opinion/2016/02/china-true-economic-growth-rate-160217134132315.html