Somkid confident economic growth trend to continue into this year

[webfact]

DPM confident economic growth trend to continue into this year

 

 

BANGKOK, 24 February 2017 (NNT) – The Deputy Prime Minister for Economic Affairs has expressed satisfaction with Thailand’s economic figures in 2016, expressing belief exports this year will grow 3-4 percent. 

Deputy Prime Minister Somkid Jatusripitak, in a speech titled “Push Forward: Looking to Economy 4.0 in 2017”, made known the Thai economy grew 3.2 percent last year even though its export segment was depressed by global factors. He cited the fact as an indication the government’s support measures are paying off. 

The DPM continued that for sustained economic stability, exports have to improve as they comprise 60-70 percent of the GDP. He called for major trade partners like the US, Europe and China to be maintained and for more work to be done to trade with the CLMV region. He believes exports can grow 3-4 percent this year if Thailand can improve its border trade. 

He affirmed the government would manage its expenditures and continue to invest in major projects to inject money into the economy but noted it would encourage large companies to assist small technology and innovation firms to spur new business.

 

-- nnt 2017-02-24

[elgordo38]

Munchkin in the US claims 2018 growth will reach  3%. That should further juice the Dow and the others. They must be drinking water drained from the Washington swamp. 

[SOUTHERNSTAR]

The problem is not the growth but the fact that that growth is limited to the Bangkok area and only for politically connected companies.

[Brer Fox]

In another report the other day  the Vice Chairman of the FTI (Federation of Thai Industries) Suparat Sirisuwannangkura said "there was a drop in the Thai Industries Sentiment Index in January as a result of both internal and external factors". He did however indicate that there was one encouraging exception and that was the car industry.

That should not come as a surprise to anyone given the Demolition Derby that occurs on Thailand's roads every day.

[PatOngo]

7 minutes ago, Brer Fox said:

In another report the other day  the Vice Chairman of the FTI (Federation of Thai Industries) Suparat Sirisuwannangkura said "there was a drop in the Thai Industries Sentiment Index in January as a result of both internal and external factors". He did however indicate that there was one encouraging exception and that was the car industry.

That should not come as a surprise to anyone given the Demolition Derby that occurs on Thailand's roads every day.

 

Car exports for January drops 14.53 percent, the lowest in 19 months .

 

Then again!

[Brer Fox]

7 minutes ago, PatOngo said:

 

Car exports for January drops 14.53 percent, the lowest in 19 months .

 

Then again!

That's exports. Domestic demand remains probably compensates for that and more for reasons previously explained.

If all else fails the government could introduce another "first car buyer incentive scheme" which really worked well before.

10 good reasons reasons for increase in domestic demand.