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State of economy worse than initially estimated: BOT

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19 hours ago, tribalfusion001 said:

Wow worse then expected, who would have thought that!

 

meanwhile the Benz dealers have reported higher sales than usual.

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18 hours ago, Trillian said:

Inflation is falling, not soaring, it's a major issue for the bank, April CPI was -3%:

https://think.ing.com/articles/thailand-steepest-price-fall-since-financial-crisis-reflects-huge-demand-drop/

 

The ever weakening USD is a concern when it comes to Baht strength, people have been dumping the Dollar which is causing it to weaken. The main reasons for that fall are the riots, and the high level of borrowings, as a result THB looks like a very sound and stable currency since government debt is below 42% of GDP. 

 

 

Sure the debt is low, as they don't spend a single THB on social welfare to feed and house their people in need, like developed countries do.

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52 minutes ago, spidermike007 said:

 

 

 

31931.jpg

31932.jpg

31937.jpg

31939.jpg

Very depressing photos...it shows how dangerous it is to rely almost 100% on one source of income, in this case tourism.

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2 minutes ago, Deli said:

Sure the debt is low, as they don't spend a single THB on social welfare to feed and house their people in need, like developed countries do.

Thailand doesn't spend as much as some Western countries on social security programs but they do have them, pensions, health care, unemployment etc. and the spending on those programs is not small, they are major components of every budget. Many see that relatively low level of spending as a positive. Many people also believe it's not governments job to house, feed and support the population, look at the financial and productivity problems it causes in some Western countries.

 

But anyway, those things are not debt. The government debt that's being referred to is the annual budget deficit which is then turned into debt, goverment overspend plus borrowing each year, that's quite low.

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12 minutes ago, Deli said:

Sure the debt is low, as they don't spend a single THB on social welfare to feed and house their people in need, like developed countries do.

They don't spend enough on social welfare, while developed/socialist countries spend way too much.

 

A country is not supposed to go into debt, or to print fake money, in order to pay for out of control social expenses.

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20 hours ago, AlfHuy said:

No.

Interest rate now at all time low at 0.5%

What interest rate is this? Mortgage rate has changed? Not still at 8%?

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1 hour ago, Deli said:

Sure the debt is low, as they don't spend a single THB on social welfare to feed and house their people in need, like developed countries do.

 

And they never will.

 

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34 minutes ago, hugolars said:

What interest rate is this? Mortgage rate has changed? Not still at 8%?

0.5% is the base rate set by the MPC at BOT. Individual banks use that as the base to determine the rates of interest they will pay customers on savings and how much they will charge to lend for loans, including mortgages. As the base rate moves so do most of the other rates for new loans, not for existing ones, unless a variable rate loan is in effect. 

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Posted (edited)

must have been using TAT's calculator.

Edited by brianthainess

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This has nothing to do with "worse than expected - it was as we had expected it". What gives?? Before the lockdown there were no tourists flows, very little cashflow and jobs were stagnant and  were being lost left and right. Our memories are nut dulled. The country's economy was in the pits well before year's end last. Well before Covid-18.  The one thing burning bright was bagasse.

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Yet still this incredulous valuation of The Baht to Foreign Exchange continues.

 

The £ gained on all past few days...But not on The Baht to any parity.

 

The Chinese yen always falsely low as The Baht is falsely high.

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22 hours ago, Cake Monster said:

Maybe its because of the FDI coming into the Country from the Mother land to the North.

I think Thailand sees the start of a massive investment program into the Country from China, and want to a court that idea.

Any investment by Chinese Companies into Thailand in order to skirt  around Tariffs imposed by the US will soon be pinged, and a whole world of hurt will hit the Country

And as Thai failed businesses, real estate etc is becoming cheaper the Chinese are poised to exploit the situation.

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39 minutes ago, barney42bb said:

Yet still this incredulous valuation of The Baht to Foreign Exchange continues.

 

The £ gained on all past few days...But not on The Baht to any parity.

 

The Chinese yen always falsely low as The Baht is falsely high.

China merged its currency with Japan,  when did that happen, I must have missed it?

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17 minutes ago, Andycoops said:

And as Thai failed businesses, real estate etc is becoming cheaper the Chinese are poised to exploit the situation.

Any foreigner, and not only Chinese, is free to exploit the situation... if there is anything to exploit. 

 

Many areas of Thailand, notably the tourist hot spots, are overbuilt, and one should better think twice before buying. 

 

If it's for private use, fine, but if it's for rental or flipping, better stay away. 

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