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Finance Ministry to roll out supporting measures after factory closedowns

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Finance Ministry to roll out supporting measures after factory closedowns

 

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BANGKOK (NNT) - The Minister of Finance has revealed the ministry is ready to introduce measures to support the economy after many factories shut down because of the global economic situation.

 

The Minister of Finance Uttama Saowanayon, spoke today about the closing down of a number of industrial factories, saying that the global economic slowdown has caused a chain reaction affecting the Thai economy, especially small export manufacturers who are severely affected.

 

He said the Ministry of Finance has been devising supporting measures to alleviate the effects, adding that it is still necessary for the government to continue issuing economic stimulation measures as the global economic slowdown will continue.

 

The Bank of Thailand has recently introduced measures to facilitate the outbound cash flow as another way to control the economic situation, which is a mutual effort to help maintain economic performance and minimize negative effects.

 

The Finance Minister said it is still diffficult to forecast economic growth next year, and the Ministry of Finance is closely monitoring the situation and preparing for potential effects.

 

On suggestions from academics seeking tax measures to act as an economic stimulus as in in the United States, he said the Ministry of Finance will have to consider the suitability and compatibility of such measures with the Thai economy and current situation, adding that the Ministry of Finance is open to future consideration as appropriate.

 

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54 minutes ago, ozz1 said:

I thought there wasn't any problems with there economy something is happening and it not going to be good but the rich don't care about the poor

It's been struggling for some time in certain area's and it's doubtful if any measures will help, goes without saying when the US sneezes everyone else gets phenomena , when China says get !!!!! everyone else bends over. 

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The cheque is in the mail...

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1 hour ago, webfact said:

saying that the global economic slowdown has caused a chain reaction affecting the Thai economy

Pesky foreign economic slowdown = not our  fault........ keep  up the great work, tighten up the rules even  more on everything, make it even more difficult....

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1 hour ago, webfact said:

many factories shut down

Rubbish one sided info, there are more new opened factories than closures.

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Exactly, but posters don't want to hear that, all they want yet another reason to blame the government for something, anything!

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14 minutes ago, saengd said:

Exactly, but posters don't want to hear that, all they want yet another reason to blame the government for something, anything!

Are you replying to post number 7? Who else should people blame them the economy is bad? 

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10 minutes ago, rkidlad said:

Are you replying to post number 7? Who else should people blame them the economy is bad? 

First off, people could look at the reality of how many factories closed this year versus how many have closed in previous years, a news article in a separate thread showed this very nicely in that this year is actually lower than last! The relaity is that there's a high volume of closures and openings here.

 

Second: for people who can't actually get past the headline and understand the problem in more detail, it would help if they understood the impact of the US/China trade wars on the Thai economy and in particular, on Thai exports, the major component of Thai GDP. But it's easier to slam a military government than it is to look at fact, it's also convenient that THB is overly strong which again must be the fault of the government I suppose.

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Not another hand out 

They'll have to come up with a trendy name for this one for sure

 

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9 minutes ago, saengd said:

First off, people could look at the reality of how many factories closed this year versus how many have closed in previous years, a news article in a separate thread showed this very nicely in that this year is actually lower than last! The relaity is that there's a high volume of closures and openings here.

 

Second: for people who can't actually get past the headline and understand the problem in more detail, it would help if they understood the impact of the US/China trade wars on the Thai economy and in particular, on Thai exports, the major component of Thai GDP. But it's easier to slam a military government than it is to look at fact, it's also convenient that THB is overly strong which again must be the fault of the government I suppose.

How many factories closed in what previous years? Compared to 2000? 2006? 2014? I’m yet to meet any Thais who’ve said the economy is good. Even the Prayut supporters. That’s because it isn’t. 
 

It is easy to slam military governments, yes. Same way as it would be easy to slam a government full of car mechanics or medical professionals. 

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2 minutes ago, rkidlad said:

How many factories closed in what previous years? Compared to 2000? 2006? 2014? I’m yet to meet any Thais who’ve said the economy is good. Even the Prayut supporters. That’s because it isn’t. 
 

It is easy to slam military governments, yes. Same way as it would be easy to slam a government full of car mechanics or medical professionals. 

Compared to last year and the year before, the number of employees involved is actually the lowest this year for the past three years! https://www.nationthailand.com/news/30378245

Edited by saengd

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