DPM satisfied with GDP growth in Q1 2017

 

 

BANGKOK, 17 May 2017 (NNT) – The Deputy Prime Minister for Economic Affairs has expressed satisfaction towards a 3.3 percent growth in the nation’s Gross Domestic Product (GDP) during the first quarter of this year, saying that the figure indicates gradual recovery in line with the government’s work. 

Deputy Prime Minister Somkid Jatusripitak has voiced satisfaction towards figures released by the National Economic and Social Development Board (NESDB) that indicated 3.3 percent GDP growth in Quarter 1 of 2017. He said the numbers show that Thailand is gradually recovering even if private sector investment contracted 1.1 percent in the period. He explained that private investment should be slow at this time as the government is adjusting the country’s production structure to attract new kinds of foreign investment. 

On investment from other countries, Somkid said state organized road shows and clearer policy have begun to prove effective in attracting foreign interest with investment now trickling in. 

 

Responding to the up to 14 million people who registered for low-income earner welfare, the DPM said it was an affirmation that many in the country are still struggling financially and need assistance from the government. He assured nonetheless that all measures to help those in need would first consider the nation’s fiscal status.

 

-- nnt 2017-05-17

 

12 minutes ago, webfact said:

On investment from other countries, Somkid said state organized road shows and clearer policy have begun to prove effective in attracting foreign interest with investment now trickling in. 

An admission of the junta government failure in attracting foreign direct investment.

 

16 minutes ago, webfact said:

onding to the up to 14 million people who registered for low-income earner welfare, the DPM said it was an affirmation that many in the country are still struggling financially and need assistance from the government. He assured nonetheless that all measures to help those in need would first consider the nation’s fiscal status.

 

The budget really stretched thin stimulating the domestic economy. Not enough checks and balances on junta expenditures and escalating infrastructure projects costs. By time the junta leave office, the government coffers likely to be empty or worse. 

6 hours ago, webfact said:

Responding to the up to 14 million people who registered for low-income earner welfare, the DPM said it was an affirmation that many in the country are still struggling financially and need assistance from the government. He assured nonetheless that all measures to help those in need would first consider the nation’s fiscal status.

After wading through all the BS here is the meat of the statement. At 3.3% growth if true the nations fiscal status should be hunky dory. Lets roll up our sleeves and help the impoverished. 

9 hours ago, webfact said:

private sector investment contracted 1.1 percent in the period

Yet recently the government noted an increase in local investor confidence over the 100 break-point mark.

Maybe domestic investors wish they had more confidence but practically are delaying further investments. They're not putting their money where their mouth is.

For those Thai SME's that can compete internationally, they'll look to nearby markets of less volatility than Thailand. For SME's that do not have cross-border marketing capability, best to sit out the current political situation in a wait & see for less volatility.

But can believe what is said. As the last finance minister said.White lies are ok?