BoT: Thai economic stability still high

BANGKOK, 15 July 2016 (NNT) - The Bank of Thailand (BoT) has confirmed Thailand’s financial and economic stability is at a high level while playing down the rising unemployment rate.

Governor of the BoT Veerathai Santiprabhob said Thai financial institutions had high reserves and capital to offset against lower loan quality caused by the slowly recovering economy. He warned of uncertainty from other factors such as financial policy of large industrial countries and Brexit.

The central bank chief added that investors’ behavior to reach for higher returns following low interest rates might make them underestimate the risks of their investment. This might affect financial institutions and the overall economy, he said.

As for the increasing jobless rate, the governor expressed no concern over the matter, saying the rising unemployment was the result of drought and the fresh graduates whose qualifications did not meet employers’ demands. The service sector hired more people and the industrial sector started to improve, said Mr. Veerathai.

-- NNT 2016-07-15

Yes sir, Thai baht still vely high ...but we can wait.

Drought responsible for unemployment? well here's the good news it's been pissing it down so the vacancies will be flooding in

Edited July 15, 20169 yr by thai3

Playing down the rising unemployment rate ?

A couple of days ago wasn't there a claim that 1 million jobs had been created ?

So the Governor of the BoT is satisfied that Thailand's predicted GDP of between 2.9 - 3.1% is quite OK as compared to surrounding countries which have GDP expectations of around 6.7 - 7.5%.

Thailand's economy has been on a downhill slide since the junta took over in 2014 and the PM is desperately rushing around the globe trying to restore foreign investment confidence which plummeted in early 2015. But reassuringly the Governor explains if the downhill slide continues it will be the fault of the financial practices of large industrial countries and Brexit rather than Thailand itself.

The question must be....are military governments good economic managers?

Just more smoke up the arse....?????

Yes sir, Thai baht still vely high ...but we can wait.

You shouldn't have to wait very long.

Thailand has a 2016 budget deficit of 390 billion baht and that can be expected to rise substantially as the military goes on it's spending spree with submarines and other weaponry with which they can play war games.

One solution to overcome the problem is to print money which means the baht will reduce in value. As debt and interest payments rise and revenues remain the same or even decrease something has to give.

Playing down the rising unemployment rate ?

A couple of days ago wasn't there a claim that 1 million jobs had been created ?

Another hub status for Thailand, the hub of contradictory statements.

Carry on, I say, doing a good job. I'm biased though, now about that Thai baht ... .

And there it is "Brexit", we all knew it would be used at sometime.

The fact that the Thai economy is in recession and has falling GDP for the last 2 years, way before Brexit does not come into it.

The facts are, country is in recession, consumer debt is dangerously high, unemployment figures are rising, political instability is deterring foreign investment along with draconian foreign investment policies, tourism is down and I suspect companies closing down is on the rise (can't find anything to support this though).

It is certainly nothing to do with Brexit and nothing to do with the timing of students leaving University with qualifications that don't fit company requirements (what the hell does that mean anyway?)

I know everyone knows the reality but it is still quite unbelievable that the government will not face up to the facts and start to try and do something about it.

If you look at the UK, they are not hiding the facts, the economy is in serious danger now and the Pound has fallen off a cliff. So, the BOE and (hopefully now stabilising) Government are facing the challenges head on, no BS talk about how wonderful things are and stupid excuses for the mess they are in.. Simple facts and serious people to deal with them (I hope).

So the Governor of the BoT is satisfied that Thailand's predicted GDP of between 2.9 - 3.1% is quite OK as compared to surrounding countries which have GDP expectations of around 6.7 - 7.5%.

Thailand's economy has been on a downhill slide since the junta took over in 2014 and the PM is desperately rushing around the globe trying to restore foreign investment confidence which plummeted in early 2015. But reassuringly the Governor explains if the downhill slide continues it will be the fault of the financial practices of large industrial countries and Brexit rather than Thailand itself.

The question must be....are military governments good economic managers?

But the GDP is not rising, it's falling, this country is in recession for sure. The figures i found supported by trading economics and the World bank show a serious decline in GDP over the last 2 years and a further predicted fall this year.

I don't see any growth, anywhere at the moment.

You can see from the link below

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

Yes sir, Thai baht still vely high ...but we can wait.

Quote As for the increasing jobless rate, the governor expressed no concern over the matter, saying the rising unemployment was the result of drought and the fresh graduates whose qualifications did not meet employers demands. The service sector hired more people and the industrial sector started to improve, said Mr. Veerathai. unquote Do I read this right the quality of education here is not meeting employers standards. I worry as when politicians claim prosperity its time to take a look in the financial cupboard.

Yes sir, Thai baht still vely high ...but we can wait.

Quote As for the increasing jobless rate, the governor expressed no concern over the matter, saying the rising unemployment was the result of drought and the fresh graduates whose qualifications did not meet employers demands. The service sector hired more people and the industrial sector started to improve, said Mr. Veerathai. unquote Do I read this right the quality of education here is not meeting employers standards. I worry as when politicians claim prosperity its time to take a look in the financial cupboard.

You do read this right. The quality of education is indeed not what todays employers are looking for.

It's a poorly though through statement like so may others. The reality is things are not good, for many reasons, all of which are not addressed in his statement.

We noticed in the last three years alot more shop houses not open offering any business service. Certainly there is alot less small businesses about and less of an entrepreneurial spirit. Simple answer is its tough out there and easier to work in a factory where there are much less overheads than running a small business.

We noticed in the last three years alot more shop houses not open offering any business service. Certainly there is alot less small businesses about and less of an entrepreneurial spirit. Simple answer is its tough out there and easier to work in a factory where there are much less overheads than running a small business.

Yep, an inevitable consequence of big businesses fighting for more business and growth. Eventually the smaller shop owners and "mom and pop" businesses just cannot complete. It's the same the world over, the UK has a lot of dead high streets nowadays in favour of out of town shopping malls full of the familiar brands.

Thailand still has healthy amount of small businesses and restaurants but over time they will sadly decline, for sure.

The only country I know that understands this and has put a stop to big businesses taking over the market is India.

Lol. Artful phrasing at its best. 'Guess "stability" and "altitude" are inversely proportional... Lots & lots of potential upside; not much remaining downside risk; = "stable".

The question must be....are military governments good economic managers?

Im sure their foreign bank accounts are very well managed

Edited July 16, 20169 yr by phycokiller