Popular Post snoop1130 Posted January 16, 2020 Popular Post Share Posted January 16, 2020 Deputy PM Somkid: One trillion baht from state budget to stimulate economy BANGKOK (NNT) - The ongoing trade war between the United States and China and a delay in state spending have added uncertainty to the country’s economic outlook. Due to delays in both public and private investments, the Deputy Prime Minister, Dr. Somkid Jatusripitak, insisted that about 1 trillion baht of the government’s budget be spent to stimulate the Thai economy. At a seminar titled “2020 - Year of Investment : Solution for Thailand”, Deputy Prime Minister Somkid said the Thai economy has to be well-managed because it is facing three risk factors. The trade war between the US and China caused Thai exports to contract 7.7% in November last year and affected 70% of the country’s gross domestic product (GDP). The slow disbursement of state funds has affected many investment projects and only 50 billion baht in investment funds were injected into the economy in the fourth quarter of 2019. Thai exporters have been hit by the strengthening of the Thai baht, while some potential investors have postponed their investment plans for Thailand. Following parliament’s approval, the government’s 3.2-trillion-baht budget is expected to be fully disbursed in September this year. The government is also promoting investment in the Eastern Economic Corridor (EEC). The Deputy Prime Minister said the government has already laid out the infrastructure to support investment, such as the high-speed train route linking Suvarnabhumi, Don Mueang and U-Tapao airports; along with U-Tapao airport and Map Ta Phut and Laem Chabang ports. The government will soon hold a 5G spectrum licence auction, as the 5G technology is an important mechanism to drive the new economy. The investment structure is now focusing on low-cost industries that produce high-value goods and services, particularly the tourism sector along with the food and agriculture sectors. They will support the grassroots economy, promote a creative economy and drive the the Bio-Economy, Circular Economy and Green Economy (BCG) model. Dr. Somkid went on to express confidence that the global economic situation will ease and the Thai economy will grow further. -- © Copyright NNT 2020-01-16 Follow Thaivisa on LINE for breaking Thailand news and visa info 4 Link to comment Share on other sites More sharing options...
ParkerN Posted January 16, 2020 Share Posted January 16, 2020 I thought the premier has said the economy is just picketyboo and the government is replete with strategic Master plans and such. Perhaps I was wrong. 1 Link to comment Share on other sites More sharing options...
Popular Post HeyHeyHey Posted January 16, 2020 Popular Post Share Posted January 16, 2020 Wait to see how it won't help but they will find ways to stuff the money in pockets of their good people friends 3 1 Link to comment Share on other sites More sharing options...
Popular Post klauskunkel Posted January 17, 2020 Popular Post Share Posted January 17, 2020 (edited) 13 hours ago, snoop1130 said: Dr. Somkid went on to express confidence that the global economic situation will ease and the Thai economy will grow further ...and he and his buddies will live happily ever after. Edited January 17, 2020 by klauskunkel 4 1 Link to comment Share on other sites More sharing options...
Popular Post colinneil Posted January 17, 2020 Popular Post Share Posted January 17, 2020 Surely after 5 years this mobs personal economy is over flowing.????️♂️ Why the need for more? Let the rest of the country get some. 3 1 Link to comment Share on other sites More sharing options...
Popular Post sammieuk1 Posted January 17, 2020 Popular Post Share Posted January 17, 2020 That will equate to 1 million after the usual disbursements???? 4 Link to comment Share on other sites More sharing options...
Popular Post ThailandRyan Posted January 17, 2020 Popular Post Share Posted January 17, 2020 Once again, all words, no action and of course blaming everyone else instead of the internal country woes due to the monetary issues incurred because of the rise in Baht. When the Baht to USD was this low in 2011 and so on I do not remember the local economy suffering this much, and the tourists were coming.....but then maybe I am wrong like I always am....just ask my now ex-wife. 2 1 Link to comment Share on other sites More sharing options...
Popular Post sniggie Posted January 17, 2020 Popular Post Share Posted January 17, 2020 Ooh, look. A new trough. 5 Link to comment Share on other sites More sharing options...
Popular Post RichardColeman Posted January 17, 2020 Popular Post Share Posted January 17, 2020 13 hours ago, snoop1130 said: insisted that about 1 trillion baht of the government’s budget be spent to stimulate the Thai economy Ah, a sub Valet and wax coming soon 3 Link to comment Share on other sites More sharing options...
Popular Post 30la Posted January 17, 2020 Popular Post Share Posted January 17, 2020 14 hours ago, snoop1130 said: Deputy PM Somkid: One trillion baht from state budget to stimulate economy You destroy the economy, then with the people's money you can make yourself beautiful in their eyes! 1 2 Link to comment Share on other sites More sharing options...
yellowboat Posted January 17, 2020 Share Posted January 17, 2020 (edited) The future starts tomorrow. He knows keeping the poor poorly educated and struggling is the only way inbreds like him can enjoy unmitigated power. Allowing tourists longer stays will help tourism. When the coup first happened many eateries lost their regular customers, their bread and butter, their reliable income. Get rid of the worst labor laws in Asia and watch luxury hotels fill up with business people wanting to do business with SME's. Otherwise ask why the Vietnamese have not thanked you formally for sending them so many that you have shun and bolstering their economy. Most of this money he is talking about benefits the wealthy as usual, and very little will trickle down. He is a broken record. Edited January 17, 2020 by yellowboat 2 Link to comment Share on other sites More sharing options...
JMSIII Posted January 17, 2020 Share Posted January 17, 2020 (edited) I'm wondering what government so-called stimulus has ever worked for any one but them, their families, and buddies. I don't know of one that has ever worked for the everyday person... If you truly want a stimulus to work, take the trillion dollars, baht, or whatever currency and distribute it tax free to the people, then watch the economy go crazy as the people buy the things they need with it... I remember Obama's trillion dollar stimulus that even he admitted a couple of years later was a complete failure...saying "ahhh it wasn't exactly shovel ready" with the money gone to the banks, other financial corporations, and corporations of CEO's that backed him... Taxpayers money given away as free gifts. This was proven by a Wall Street Journal reporter who wrote about it. And the Thai gov't wants a stronger baht.... Edited January 17, 2020 by JMSIII add 1 Link to comment Share on other sites More sharing options...
tomauasia Posted January 17, 2020 Share Posted January 17, 2020 This must be the worst government ever to take office. How does Pinnochio look at himself knowing the damage done. 1 Link to comment Share on other sites More sharing options...
tomauasia Posted January 17, 2020 Share Posted January 17, 2020 36 minutes ago, JMSIII said: I'm wondering what government so-called stimulus has ever worked for any one but them, their families, and buddies. I don't know of one that has ever worked for the everyday person... If you truly want a stimulus to work, take the trillion dollars, baht, or whatever currency and distribute it tax free to the people, then watch the economy go crazy as the people buy the things they need with it... I remember Obama's trillion dollar stimulus that even he admitted a couple of years later was a complete failure...saying "ahhh it wasn't exactly shovel ready" with the money gone to the banks, other financial corporations, and corporations of CEO's that backed him... Taxpayers money given away as free gifts. This was proven by a Wall Street Journal reporter who wrote about it. And the Thai gov't wants a stronger baht.... They are stealing the money they don't give it all. Don't be silly. Link to comment Share on other sites More sharing options...
LivinLOS Posted January 17, 2020 Share Posted January 17, 2020 Remember folks.. Populism is bad, and popuist policies are enough to raise street protests and bring down the elected government.. Get your whistles out for the lads !! Link to comment Share on other sites More sharing options...
Sydebolle Posted January 17, 2020 Share Posted January 17, 2020 I hope the minister is aware that it is not the government's money or budget but they are burning taxpayers money by the truck load. The stimulation of the economy has to do with the interest rates dictated by the Bank of Thailand (see what happened when Prem took over as PM some 40 years ago); fiddling around with the currencies requires serious indepth knowledge and an absolute synchronization between the finance ministry and the national bank. But yeah, we will see - until then the Thai people will be paying straight through their noses for all this disaster. Instead of serving its people with free education, desalination plants for potable water and sustainable energy and pollution management (zero taxation on solar panels spring to mind) they rather go for tanks, submarines and other big-boys-toys; latter less for defence but the little perks attached to such contract signatures - the writing is on the wall ???? Link to comment Share on other sites More sharing options...
natway09 Posted January 17, 2020 Share Posted January 17, 2020 An economy stimulus package can work as have seen in other countries only if it gets to people who will spend it or pay off loans.. If ends up in 6 months time in banks & just sits there just makes the rich,, richer & the poor stay poor Link to comment Share on other sites More sharing options...
Redline Posted January 17, 2020 Share Posted January 17, 2020 On 1/16/2020 at 5:59 PM, snoop1130 said: They will support the grassroots economy, promote a creative economy and drive the the Bio-Economy, Circular Economy and Green Economy (BCG) model. ???????????????????? definitions and details please so, educated people are not needed for these? Link to comment Share on other sites More sharing options...
Srikcir Posted January 18, 2020 Share Posted January 18, 2020 On 1/16/2020 at 5:59 PM, snoop1130 said: to stimulate the Thai economy. Since 2015 the Prayut government has only succeeded to increase income inequality. Not only did Thailand have the widest income inequality in ASEAN, it surpassed Russia and India as the most unequal worldwide. https://www.statista.com/statistics/716001/share-of-household-income-levels-in-thailand-forecast/ Obviously, the government's "stimulation" plans have been more in the realm of uncontrolled electric shock therapy that is killing the patient. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now