Fourth quarter economy remains sluggish

 

 

BANGKOK: -- Economy in the fourth quarter of this year  is quite sluggish, with expansion lower than the third quarter, permanent secretary of Finance Mr Somchai Sujjapongse said yesterday.

 

With the sluggish economy, he said, it prompted  the ministry to come up with new measures to stimulate more domestic spending and tourism.

 

This include a measure to lower tax on luxury goods, such as perfume and cosmetics, which has already gotten  approval from the Commerce Ministry and would be put in force on a temporary basis from February to March 2017.

 

Full story: http://englishnews.thaipbs.or.th/fourth-quarter-economy-remains-sluggish/

 

-- © Copyright Thai PBS 2016-11-25

Don't worry, boys! There are foreign investors just ready to chuck money at you. There are also some Sammarinese (peeps from San Marino) already packing their bags and boarding planes. 

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With the sluggish economy, he said, it prompted  the ministry to come up with new measures to stimulate more domestic spending and tourism

 

I got an idea, how's about charge farangs millions of baht for a visa?

 

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This include a measure to lower tax on luxury goods, such as perfume and cosmetics

 

Forget that, how about lowering stifling taxes on normal things like cheese, wine, beer and BMWs?

Fourth quarter economy remains sluggish

The Minister for Tourism would beg to differ!

Monies were spent years ago. It's now payback time.

 

Anyone with a credit card understands this phenomenon...

So they actually believe that lowering tax on perfume and cosmetics on a temporary basis from February to March will help boost the economy?    Mindless Morons; i wouldn't give them a job counting grains of rice !

Does anyone seriously believe that any lowering of tax on perfumes to wholesalers means it gets passed through the chain of distribution to consumers so driving them into a frenzy to buy a bottle of Chanel No 5. A worthless example of innovative government thinking.

 

Only a sluggish ministry could have though this one up and only serves to demonstrate that sluggish brains within the government is the more likely cause of the sluggish economy.

 

3 hours ago, webfact said:

new measures to stimulate more domestic spending and tourism.

 

Methinks your talking to a tapped out audience. Bring in the helicopter money. 

Just turn all the graphs upside down, they look awesome and this electorate really wont notice (what electorate )

4 hours ago, webfact said:

expansion lower than the third quarter

But no predictions.

National Economic and Social Development Board's Secretary General Paramethi Wimonsiri just reported that Thailand’s economic growth during 2016Q3 was expected to grow by 3.2%, which is a 0.6% expansion from 2016Q2. That makes the second quarter rate 2.6%. The 2015 annual average growth rate was 2.5% (World Bank)-2.8% (Thai government). So it's possible the 2016 annual average growth rate will match 2015 at best or lower at worst. Not very promising for an economic recovery any time soon.

 

An inflammatory post has been removed. 

7 hours ago, trainman34014 said:

So they actually believe that lowering tax on perfume and cosmetics on a temporary basis from February to March will help boost the economy?    Mindless Morons; i wouldn't give them a job counting grains of rice !

 

Oh I don't ...... they have a lot of recent experience counting rice ...... must be getting good at it by now.

As we near the end of 2016, with only one  month to go, the previous optimistic projections for the economy are being toned down as realism sets in.  Only TAT seems more confident, with projected arrivals for this year being increased from 32,6 to 33.8. but what's new?  What is that woman on, as I want some?

Any amount of damage to the country's economy, society, legal system and  international reputation is apparently a small price to pay to stick it to those who thought they could thumb their noses at the entrenched elite--the Shinawatra clan.

The economy  may be sluggish ,but the spending still goes on , around here  there must be 5-6  road  re surfacing  jobs going on ,one is in front of our house, the most  I have ever known , and that is just in our area .

 

On my  odd visit to Bangkok  the money spent  on  infrastructure  there takes some believing ,and they  are still building rows ,and rows   these 3 story  lockups ,that will be never sold .

Can  I see the IMF  calling on Thailand again ?.

Just cut interest rates to 1.0% (currently 1.5%). That coupled with the projected US rate rise Yellen has been promising us in December should cause capital flight from Thailand to the US. That will lift the abysmal FX rates for the Euro and for Sterling which in turn should encourage more visitors to Thailand.

 

As for cutting tax of cosmetics, do the junta really think that tourists come to Thailand to buy that kind of junk? Even with 21% VAT on perfumery in the Netherlands, prices are still 50% less than what you have to pay in Thailand.

Sure, perfume sales boost from lower taxes will bring up the economy immediately. Who really comes to Thailand to buy perfume anyway?