Finance Minister confident Thai economy will grow in Q3

  

BANGKOK, 22 September 2016 (NNT) – Thailand’s economy is expected to continue expanding in the third quarter, due to government measures taken against a backdrop of a sluggish global economy, says the Minister of Finance.

The Minister, Apisak Tantivorawong is confident that the Thai economy will continue to grow by 3.5 percent in the third quarter, while signs of weak investment are expected during the fourth quarter as indicated by the sales of cement, vehicles, and produce. 

He has said the government is equipped with a range of measures, and is prepared to take care of the economy in appropriate ways, which cannot be disclosed in advance due to the sensitivity of situation. The current investment promotion measures are deemed appropriate to spur more investment by the private sector that may still have doubts regarding the sluggish global economic recovery. 

The government is now urging all state enterprises to accelerate investment projects with concrete progress commencing during 2017 in order to propel the economy, and raise confidence in the private sector. 

The Minister of Finance today added that the International Monetary Fund (IMF) now considers the Thai economy to be strong, as demonstrated by foreign capital in-flows into the Kingdom, underlining the country's economic stability. While the global economy is still in a fragile state with some expected factors likely to disturb the economic cycle, the minister concluded that global economic recovery is expected in the next two years.

 

-- nnt 2016-09-22

 

I think we can all agree with the ever increasing sales of cement !

"He has said the government is equipped with a range of measures, and is prepared to take care of the economy in appropriate ways, which cannot be disclosed in advance due to the sensitivity of situation."

 

Whilst I understand the need in some situations to "keep your powder dry", the phraseology of the report does not exactly give a perception of "open, transparent governmemt." Not that I expected to witness that.

Thailand's economy is stuffed. 

Oh let's give him a D+ for the effort..

 

5 hours ago, webfact said:

Minister, Apisak Tantivorawong is confident that the Thai economy will continue to grow by 3.5 percent in the third quarter

Just days ago Executive of Kasikorn Bank Korbsit Silapachai and Director of the Thailand Development Research Institute Kirita Phaophichit said the Thai economy in the third quarter could grow by 3%.

 

I am marking this on my December page of the calendar to see if he gets the Egg On His Face award for 2016

Compared to what?  Otherwise utter rhetoric! 

I expected no less from a government minister, since when is it not all sugar and spice , the truth is slightly different , the economy may grow in that quarter but it will sink early next year. then what talk will not fix the elephant in the room.

46 minutes ago, shirtless said:

I expected no less from a government minister, since when is it not all sugar and spice , the truth is slightly different , the economy may grow in that quarter but it will sink early next year. then what talk will not fix the elephant in the room.

I don't agree. Many articles says opposite

 

• http://www.bloomberg.com/news/articles/2016-09-19/thai-stocks-still-offer-good-value-on-earnings-kesara-says
• http://www.bloomberg.com/news/videos/2016-09-19/what-went-wrong-for-thai-stocks
• http://www.bloomberg.com/news/videos/2016-08-25/why-thailand-is-still-a-darling-for-investors

Edited September 22, 20169 yr by carstenp