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Thailand not in recession, just growing below potential: central bank governor

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Thailand not in recession, just growing below potential: central bank governor

 

2019-10-10T045603Z_1_LYNXMPEF9907D_RTROPTP_4_THAILAND-ECONOMY-CENBANK.JPG

Thailand's Central Bank Governor Veerathai Santiprabhob speaks during an interview with Reuters at the Bank of Thailand in Bangkok, Thailand, October 4, 2019. REUTERS/Matthew Tostevin/File Photo

 

BANGKOK (Reuters) - Thailand's economy is not experiencing recession but is growing slowly and below potential, central bank chief Veerathai Santiprabhob told reporters and analysts on Thursday, adding that the country also faced structural issues.

 

Last month, the central bank cut its 2019 economic growth forecast to 2.8% from 3.3%, as exports weakened amid rising global trade tension. Last year's growth was 4.1%.

 

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Tell that to the PM....if he will listen :whistling:

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21 minutes ago, 30la said:

Like all countries in the world, even Thailand has learned very well to hide the truth, we are in full recession and those who realize it are only the minor classes!

So what is your definition of "full recession"?

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There was an interesting article in Bloomberg a few days ago about how thailand has almost no options to weaken the Baht, weakening interest rates will have little effect, opening the flood gates and investing heavily in infrastructure would be one way but it takes time. There are so few safe havens where one can still make a profit in the world that Thailand with its huge foreign reserves and relative stability makes it an obvious choice to invest or park money. The article said that the Bahts strength still has a long way to run. 

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6 minutes ago, soalbundy said:

There was an interesting article in Bloomberg a few days ago about how thailand has almost no options to weaken the Baht, weakening interest rates will have little effect, opening the flood gates and investing heavily in infrastructure would be one way but it takes time. There are so few safe havens where one can still make a profit in the world that Thailand with its huge foreign reserves and relative stability makes it an obvious choice to invest or park money. The article said that the Bahts strength still has a long way to run. 

Sharp post.  

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