Government remains confident in economic recovery

[rooster59]

Government remains confident in economic recovery

BANGKOK: The government remains confident of economic recovery this year although its growth projection has been trimmed to 3.3% from 3.7%.

The confidence was voiced by the deputy prime minister Dr Somkid Jatusripitak at a seminar aimed at boosting investors’ confidence.

He stated that the country’s economy was showing strong signs of recovery, attributing this to a number of factors such as the 0.9% growth in exports and the increase in foreign investment in the country.

Furthermore, he stated that the government was steering Thailand towards a dramatic change both politically and economically.

This change is being called the Industry 4.0 development which will inculcate a more modern highly innovative and technologically driven economy driven by the government’s support for Startups.

Plans for the establishment of a ‘Food Innopolis’ involving the agricultural and food sector is in line with this goal.

This future institution will garner the cooperation of the private sector, research institutes to become involved in research and development to create new innovations for Thailand’s traditional goods and products as well as more specialized marketing programs, he said.

Source: http://englishnews.thaipbs.or.th/content/161697

-- Thai PBS 2016-04-30

[Denim]

This ' government ' was confident in economic recovery a year ago. One year from now , this government ( regardless of 'elections' ) will still be confident of economic recovery. If and when this long awaited recovery happens it will be in spite of these power grabbers , regardless of anything they have done to retard it.

[Siamthomas]

The military or the government ?

They have elected one as yet. Also its been 2 years and still the basics were not ironed out. Police not doing there duty to uphold the law. Letting Thais committ serioys asssults and playing judge and jury. YES sure your economy is going to fly lol... l dealt that falangs harrassed anyway possible. It is a big disappointment

[Siamthomas]

Investers is he on yabba. They see TV and all the massive CHINA patrol. Investers invested in not investing

[Hawk]

"He stated that the countrys economy was showing strong signs of recovery, attributing this to a number of factors such as the 0.9% growth in exports and the increase in foreign investment in the country."

***The economy is showing strong signs of decline not recovery and the foreign investors were simply playing the stocks and shares game last week. Last week the baht increased in value due to foreign money flowing in but now those very same investors have pulled out taking their money with them, so now the baht has decreased in value.

The military are wrecking the economy with the new charter and other ill thought out mega nonsense projects, so nobody any confidence these days.

[Siamthomas]

Exactly yes all fact. They have no idea what they are doing

"He stated that the countrys economy was showing strong signs of recovery, attributing this to a number of factors such as the 0.9% growth in exports and the increase in foreign investment in the country."

***The economy is showing strong signs of decline not recovery and the foreign investors were simply playing the stocks and shares game last week. Last week the baht increased in value due to foreign money flowing in but now those very same investors have pulled out taking their money with them, so now the baht has decreased in value.

The military are wrecking the economy with the new charter and other ill thought out mega nonsense projects, so nobody any confidence these days.

[JAG]

A "Food Innopolis". Is that like a " hub " only with more happiness?

[MaiChai]

If you google innopolis it comes up links to a town in Russia. I was scratching my head over this word as i am sure i have never come across it before. Thus can we congratulate thai pbs on inventing a new English word?

[shirtless]

I really dont know where all the optimism comes from , in light of recent world headlines tourism may go down, They have drought in many regions, and more importantly the world economy has slowed ,

[phoenixdoglover]

This change is being called the Industry 4.0 development which will inculcate a more modern highly innovative and technologically driven economy driven by the government’s support for Startups.

This is the sort of BS created when the Seminar is three days away, PowerPoint is open, and all you have is the title slide.

[NongKhaiKid]

I'm getting on in years ( I prefer mature or gracefully aging ) and will probably never hear or read of one of the items on my bucket list which is a govt spokesperson being negative.

The economy is shot, tourism and income has dropped and so much more.

To Dream The Impossible Dream but at least an ' expert ' has predicted the rainy season.

[Thailand]

Keep taking the happy pills.

[Pib]

Have you ever seen a govt not confident in recovery? Things will always be better by year's end, next year, etc. That's why I never worry about the economy because the govt has it all under control...and in Thailand the govt does control a lot of the economy since so many major products/services are provided by state-owned agencies. My meds also make me happy.

[DrTuner]

Yingluck must be making a bundle selling her magic shrooms to these guys.

[Srikcir]

Recently the government released statistics for the first six months of the fiscal year 2016 budget showing a deficit of 500 billion baht.

Economic recovery indeed.

[mesterm]

Confidence is a magical thing.

[Thaddeus]

What is the government going to say for heavens sake?

It's the same the world over.

"Everything is fine, nothing to see here, move along"

[Ricardo]

Recently the government released statistics for the first six months of the fiscal year 2016 budget showing a deficit of 500 billion baht.

Economic recovery indeed.

Is that the same government spending-deficit, which has been running as a deficit (aot a surplus) for a decade now ?

If the Thai economy is growing at 3%+, and I'll admit I have my doubts about any government's statistics at times, then that would make it a growth-rate better than the UK or USA currently enjoy.

Which is still a reduction compared to the past decade, but then the Chinese economy has also slowly been coming off the boil, at the same time.

Slow growth is still better than no growth, IMO.

[Jimbo2014]

The season of trimming begins - as the year drags on we will see the figure drop further... and further... and further. 3.2% is tragic for a low income country in the center of Asia.

[wonder6281]

Let's see how they go when the USD tanks!

[gandalf12]

I read in a news article, not from Thailand, that over the last few years foreign investment had dropped by 90%. Still it is good to be optimistic after all some one has to be.

[Plutojames88]

The problem with such statements is the same source claim polls reflect 99.3 % of Thais approve of them.

The reality is not so important anymore.

As choice , or consequences don't apply.

Why they even pretend to care or bother is puzzling.

If the economy was in deep recession the spin would be its Thaksin and reds fault , westerners etc.

No one can do anything about it.

You can't vote them out.

You can't criticise too much.

And increasingly they can punish you ( like the guy who released the bashing video of Brits) in the name of national interest.

Simply say it was rude or a plot.

People are rotting their lives away there in jails for crimes like Facebook posts.

I hear attacks on westerners and verbal abuse is on the increase.

These guys ( government) basically don't mind if westerners stay home.

And if they say the economy is looking good down the track and tourism is booming what's the point in saying its crap?

Welcome to the fantasy world of Military control

[elgordo38]

This ' government ' was confident in economic recovery a year ago. One year from now , this government ( regardless of 'elections' ) will still be confident of economic recovery. If and when this long awaited recovery happens it will be in spite of these power grabbers , regardless of anything they have done to retard it.

I wish I had 30 bahts for every time I read or hear the word confidence. In other countries we call it BS. Politicians exude so much confidence its almost akin to a bad case of flatulence.

[elgordo38]

Recently the government released statistics for the first six months of the fiscal year 2016 budget showing a deficit of 500 billion baht.

Economic recovery indeed.

Thats what politicians do they spin negatives into positives. Negativism has no place in politics.

[wabothai]

He boys, wake up (photo), make Thailand attractive for foreign investment, included making ownership easier, and your figures will skyrocket.

If you don't, you die and you deserve it. UP TO YOU.

[NCC1701A]

"The confidence was voiced by the deputy prime minister Dr Somkid Jatusripitak at a seminar aimed at boosting investors’ confidence."

[Eric Loh]

Simple solution for a turnaround economic recovery is to replace the referendum with an election and reinstate the 1997 or the 2007 constitution. A civilian government voted in by the people will put us back on the radar screen of foreign investors. Somkid knows that after all he was a former elected MP.

[Rancid]

All governments talk up the economy, their only real aim is to keep it afloat long enough, despite the usual incompetence, so that it crashes on who ever follows them. That mob then, despite their own ineptitude will blame it all on the former government. And so it goes on...

[GAZZPA]

Recently the government released statistics for the first six months of the fiscal year 2016 budget showing a deficit of 500 billion baht.

Economic recovery indeed.

Thats what politicians do they spin negatives into positives. Negativism has no place in politics.

Politicians? Hmmm, not sure about your use of the word.

[SOUTHERNSTAR]

Starting to sound like the US recovery, all talk no show.