Economic growth this year is expected to rise 3.3-4%

 

 

BANGKOK: -- The Joint Standing Committee on Commerce, Industry and Banking says the country’s economic growth this year is expected to rise 3.3-4%.

 

It also believes this will improve slightly by 3.5-4% next year.

 

After yesterday’s meeting of the joint standing committee, Mr Isara Vongkusolkit, chairman of the Board of Trade, and the Thai Chamber of Commerce, said economic growth projections for 2016 has been pegged at 3.3 – 3.5%.

 

But for exports, he said it was expected to stand at between 0-2% contraction.

 

But outlook for 2017, he said it would improve slightly with economic growth expected to be between 3.5 to 4% while exports should grow by at least 2 %.

 

With regards to the current low market prices for rice, the consensus is that this is due to the high intensity of rains during the period which has result in a rise in moisture content.

 

The joint standing committee agreed with  the government’s attempt to bolster rice prices by employing rice barn pledging schemes.

 

The private sector on the other hand will help with medium-term and long-term price control measures by placing higher priority on quality and crop yield.

 

Furthermore, the government’s policy to have farmers plant substitute crops such as peanuts will help farmers significantly as at present, these have to be imported from China, the meeting concluded.

 

Full story: http://englishnews.thaipbs.or.th/economic-growth-this-year-is-expected-to-rise-3-3-4/

 

-- © Copyright Thai PBS 2016-11-02

Eeeeeevryday.  Give me a number, any number....

I'd like to see data on what percentage of a Thai diet is made up of peanuts as compared to rice !

You can just see the headline 5 years from now - Peanut mountain forces u-turn in rice growing.

I appreciate the positive outlook but the reality is that so long as 70% of GDP (exports) continues to contract (over the last nine months average), Thailand will be lucky to match last year's GDP growth. Particularly since DPM Somkid declared in October 2016 that that the government need not implement economic stimulus measures during this time. It has been government stimulus in FY 2015 that bouyed GDP growth.

1 hour ago, RichardColeman said:

I'd like to see data on what percentage of a Thai diet is made up of peanuts as compared to rice !

This week it is peanuts as the replacement salvation. Last week it was corn. Any guesses for next week.

I wonder if I could get them to prepare my personal budget for next year, as the one i have put together does not look too good. 

6 minutes ago, Retiredandhappyhere said:

I wonder if I could get them to prepare my personal budget for next year, as the one i have put together does not look too good. 

Watch out for that. I wouldn´t do it. Everything they promise always turns out much smaller when reallity comes knocking on the door. 

Take a few  and think about that you´re saving money. Next year they might be more expensive. LOL

So, there was [and still is] a drought in Thailand but the moisture content is too high ???

And the farmers will get rich just because they switch the crops ???

 

Government propaganda is one thing but outright nonsense is when it gets really bad.

The world economy is in a decline for the last [at least] 8 years and there is not a single

indicator that would suggest that anything changes ... the world economy is going down !

Thailand will not be an exclusion at all - what ever they do.

 

There is a storm coming ... a big one !!!