PM orders economics’ team to take care of economic situation

[webfact]

PM orders economics’ team to take care of economic situation

 

   

BANGKOK (NNT) - The Prime Minister has ordered his economics’ team to comprehensively take care of the economic situation in the country and closely study the global economy. The first economics cabinet meeting is expected to be held on August 16.

 

Government Spokesman Naruemon Phinyosinwat, disclosed today, that at a cabinet meeting, Prime Minister and Defense Minister Gen Prayut Chan-o-cha had expressed his concerns about the broader economic situation especially the trade war between China and the United States which affects the global economy and Thai exports. He assigned relevant agencies to closely follow up on the situation.

 

The Minister of Finance also reported on the economics overview, calling for the preparation of a plan to cope with the developing situation. He reported on various economic indicators that have slowed down, such as the country’s export figures in the first six months which contracted by 2.7-2.8 percent and compared the numbers to those of other countries that were no less affected.

 

Meanwhile, the tourism sector is still not much affected. The Bank of Thailand (BOT) has cut interest rates making the baht depreciate slightly. The Minister of Finance also informed the meeting of guidelines for the formation of a joint committee to oversee the economy that will consist of various independent organizations such as the BOT and the Stock Exchange of Thailand. He confirmed that the establishment of this committee is not intended to control the independent organizations but will allow them to work together.

 

The Minister of Finance reported on progress in launching economic stimulus measures which are expected to be submitted to the first economics cabinet meeting on August 16, 2019. The Prime Minister, therefore instructed all ministries to ensure cooperation and use the Bio Economy, Circular Economy and Green Economy models to help adjust the economic structure to address the economic downturn and raise the prices of agricultural products.

 

The meeting also considered the 2020 annual budget expenditure plans from 11 agencies, such as the King Prajadhipok Institute; the Office of the Administrative Court; the Office of the Attorney General; Office of the Ombudsman, etc.

 

-- © Copyright NNT 2019-08-15

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[gunderhill]

thats  that sorted then!   dunno  why  every  country  in  the  world  doesnt  have  this  order to fix  the  economy,  genius.

[leeneeds]

 

1 hour ago, webfact said:

to address the economic downturn and raise the prices of agricultural products.

Rise prices of products that are oversupplied, 

stimulus packages giveth and taketh away,

" I forgot to mention the military spending is not part of the equation, please continue "

 

[mok199]

Just like he fixed the road carnage problem..Homour with my morning cup of tea..

[gunderhill]

23 minutes ago, mok199 said:

Just like he fixed the road carnage problem..Homour with my morning cup of tea..

what!!!  unbelievable......no Tiffin??

[Fex Bluse]

Finally an order! 

 

Now it will be fixed quickly. 

 

Not sure why he waited so long to issue the order. 

[Puchaiyank]

"So let it be written...so let it be done!"  ????

[yellowboat]

Sounds more like clean up on isle 11.  Wonder if he orders a pizza in the same way.

[quandow]

Just order another submarine. That will take care of everything.

[graemeaylward]

It would have been more exciting and newsworthy had it read "PM orders economics team to take care of road safety situation"! What else should the economics team be doing? And why the apostrophe?


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[RotBenz8888]

I'm sure I read "Prayut to head new team to lead recovery" a few weeks ago. Head still buried in the sand?

[holy cow cm]

4 hours ago, webfact said:

Office of the Ombudsman

Looks like this office is due for a raise?

[hotchilli]

4 hours ago, webfact said:

Prime Minister and Defense Minister Gen Prayut Chan-o-cha had expressed his concerns about the broader economic situation especially the trade war between China and the United States which affects the global economy and Thai exports

If Thailand wasn't so far up China's arse and actually produced something of their own then maybe things wouldn't be so bad!

[neeray]

That's great news. Good delegation. Hand the job to others who just might have an idea or two of what they are doing.

 

But this line kind of baffles me, "Meanwhile, the tourism sector is still not much affected".

I seem to keep reading and hearing the polar opposite.

[Eric Loh]

4 hours ago, webfact said:

The Prime Minister, therefore instructed all ministries to ensure cooperation and use the Bio Economy, Circular Economy and Green Economy models to help adjust the economic structure to address the economic downturn and raise the prices of agricultural products.

Well at least he manage to copy some big powerful economic models which I doubt he understand but does made him sound intelligent. Obviously he left out the part of how he want these models to be implemented. It will be a bridge too far to stretch his intellectual capacity. 

[harada]

Give the guy a break, I'm sure that he has assembled the best economics Generals in the business, all sorted.

[Darkside Gray]

Im in charge and I order you to fix it!

[PatOngo]

1 hour ago, RotBenz8888 said:

I'm sure I read "Prayut to head new team to lead recovery" a few weeks ago. Head still buried in the sand?

Where he leads, they will follow.

 

 

 

 

[Jimbo2014]

[Tayaout]

Time to raise the baht, delete Facebook and hit the gym. 

[Krataiboy]

If we ever get a world government, this is my man!

[timendres]

And in other news:

 

"DLT ordered to properly manage traffic"

"FDA ordered to monitor food and drugs"

"Anticorruption department ordered to better manage their corruption"

 

[oldrunner]

Crap d'tat of Ocha becomes history. I had this weird dream?

 

[briansbiology]

Reminds me of the school I work at. Run at ground level by western teachers and administrators we answer to our Taiwanese boss who has 0 knowledge of education but insists on head of dept. meetings where he espouses such insightful gems as "tell the students to study for better grades". He has it all figured out....! lol 

[briansbiology]

Reminds me of the school I work at. Run at ground level by western teachers and administrators we answer to our Taiwanese boss who has 0 knowledge of education but insists on head of dept. meetings where he espouses such insightful gems as "tell the students to study for better grades". He has it all figured out....! lol 

[Isaan sailor]

Give me that job, please.  I’d march over to Bank of Thailand—with a full garrison of soldiers—and fire the top administrators.  Next, I’d announce “Until further notice, we have suspended short term bond sales to foreign entities.”  No more hot money inflows, and the Baht will drop precipitously.

[Redline]

Fix the education system~few people know how to do anything, and it's getting worse.  How can the country go on?

 

http://www.en.moe.go.th/enMoe2017/index.php/articles/350-obec-brands-o-net-fails-a-success

 

 

[nong38]

Raising the minimum daily wage is just the first step on the downward spiral, there is more to this economics stuff than meets the eye, if only there were someone to teach and explain close at hand or indeed in house.

[Number 6]

Meanwhile, the tourism sector is still not much affected.

 

The Bank of Thailand (BOT) has cut interest rates making the baht depreciate slightly.

 

 

You can't make this stuff up. Oh, wait a minute...I guess you can.

[Number 6]

Lee Kuan Yew warned Singapore not to remain a nation of shopkeepers. Thailand never got the memo.

 

So many Thai are forced into selling crap for a pittance both as primary and secondary jobs. They don't have the education and skills to do better and the economy or should I say the job market has all sorts of issues and obstacles. This is a 25 year old story.

 

At the root of all this is corruption that rewards contacts and influence. It's not a meritocracy in the least. This is the Thailand's real problem. Incompetence and greed locked in at every level. When the money runs out it will get really ugly. Impossible to get anything done unless the right people are paid off. The nation will look like Cambodia or the Philippines.

 

I see nothing that will change anything other than collapse. Then still...you have a military government so it's really quite hopeless. China is stagnating now as well. They cantake the leap to developed economies.