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Standard Chartered Bank predicts 4 percent growth rate for the whole year

rooster59

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rooster59 Star Member

rooster59

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Standard Chartered Bank predicts 4 percent growth rate for the whole year

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BANGKOK: Standard Chartered Bank (Thailand) has predicted Thailand’s overall economy will grow by 4 percent as a result of government’s escalated investments in mega-infrastructure projects which will encourage the private sector to increase their investments.

Ms Ussara Wilaipit, a senior economist at Standard Chartered Bank (Thailand), said that Thailand’s growth rate for the first half of the year was predicted at 3.6 percent but, in the later half of the year, the growth rate would register 4.4 percent, making the overall growth rate for the whole year to register at 4 percent.

She attributed the anticipated growth rate increase to the government’s efforts to speed up implementation of seven infrastructure projects this year which, she said, will convince the private sector to increase their investments in the later half of the year.

As for the inflation rate, Ms Ussara said inflation rate for the second half of the year would surpass one percent but the policy rate is likely to remain at 1.5 percent until the end of the year.

Source: http://englishnews.thaipbs.or.th/standard-chartered-bank-predicts-4-percent-growth-rate-whole-year/

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-- Thai PBS 2016-06-25

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gandalf12 Silver Member

gandalf12

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The Thai economy has apparently been booming, growing and smashing all records since the coup. Just waiting for Prayuth to announce that the world declares Thailand the economic hub of the world.

Surely it is the economic hub of the universe, why stop at the world?

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Srikcir Ruby Member

Srikcir

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Wilaipit in January 2016 also predicted for 2016 a 4% annual growth rate. Then follows two quarters below 4%. She also based her estimate in part to export growth of 3%. In fact exports have been contracting or stagnating. So she will have to continue the growth rate of her predictions. And she is a senior economist?

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Winniedapu Newbie

Winniedapu

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Standard Charter Bank...

Weren't they fine or named and shamed in 2012 for dishonesty a few years back (less than 5 years)? Ah yes. Deception in helping Iran avoid sanctions. US Govt levied fines worth $132,000,000.

Found on Google despite SCB flooding the engines with corporate links to try and hide the reports of their deception and dishonesty.

Right.

I'll be paying attention to their predictions then...

W

Edited by Winniedapu
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Brer Fox Apprentice Member

Brer Fox

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Infrastructure spending certainly does improve growth figures. It can also has some negative effects. Some serious heavy borrowings will be involved. The Thai budget for 2016 shows an increase in borrowings (over the previous year) of 56% to 390 trillion baht. (US$11 trillion). That is going to take some funding if they can find anyone who wants to lend it to them. Military governments seem to be big spenders and big borrowers. Whether they are big re-payers remains to be seen.

Standard Chartered Bank (Thailand) seem to naively believe these projects are going to impact on economic growth figures for the remainder of the year.

And a few of the seven major dreamtime mega-infrastructure projects are. Can anyone fill in the blanks?

1. Double-track railway high speed rail project from Bangkok to Nong Khai

2. Bangkok-Rayong high-speed rail project.

3. Bangkok-Hua Hin high speed rail project

4. ??

5. ??

6. ??

7. ??

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Winniedapu Newbie

Winniedapu

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Infrastructure spending certainly does improve growth figures. It can also has some negative effects. Some serious heavy borrowings will be involved. The Thai budget for 2016 shows an increase in borrowings (over the previous year) of 56% to 390 trillion baht. (US$11 trillion). That is going to take some funding if they can find anyone who wants to lend it to them. Military governments seem to be big spenders and big borrowers. Whether they are big re-payers remains to be seen.

Standard Chartered Bank (Thailand) seem to naively believe these projects are going to impact on economic growth figures for the remainder of the year.

And a few of the seven major dreamtime mega-infrastructure projects are. Can anyone fill in the blanks?

1. Double-track railway high speed rail project from Bangkok to Nong Khai

2. Bangkok-Rayong high-speed rail project.

3. Bangkok-Hua Hin high speed rail project

4. ??

5. ??

6. ??

7. ??

Indeed. I have a colleague who met their CEO (or former CEO) while he was the country manager for SCB - some years ago. A Dutchman apparently. By all accounts, he showed up to the business meeting in shorts, a tee-shirt and boating shoes on some pretext or another, then had to dash away after 20 minutes for a round of golf or to catch a plane or something. And it was him who suggested the time for the meeting...

Very professional. I think my colleague closed all his accounts the next day.

As I would have done.

W

Edited by Winniedapu
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