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Deputy Finance Minister reports that government expediting nation's infrastructure development
16 August 2008

The Deputy Minister of Finance reports that the government is expediting solutions to the nation's economic problems, and will also be focusing on development of basic infrastructure in the second half of the year.

Deputy Finance Minister Assc. Prof. Dr. Suchart Thadadamrongwej (สุชาติ ธาดาธำรงเวช) hosted a meeting of analysts from August 16-19 at Thaksin University's Songkhla campus. Officials and analysts in attendance discussed Thailand's economic issues and attempted to derive solutions. Dr. Suchart reveals that Thailand's economic problems are currently due to the lack of investors' confidence in the nation's economy, society, and politics.

The rise in price of everyday consumer goods is also a point of concern. The deputy minister said that the government and the Ministry of Finance will work hard at solving these issues, in order to boost investors' confidence. The government will also attempt to reduce the price of consumer goods, and promote its 46 billion baht, 6 policies, 6 months campaign to save the Thai economy. The campaign is expected to help Thai households save an average of 2000 baht per month, resulting in increased spending, employment, and production which will provide the nation with over 80 billion baht in revenue over the next 1 year.

Dr. Suchart said that the government will be focusing on development of Thailand's basic infrastructure and economy over the second half of the year.

thainews.prd.go.th


what's left and what have they been doing for the first half ??

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__________________
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bkkandrew

Oh dear, they really are foked now!

thehighlander959

666 Nice one Andrew! Is it an Omen! This furkin lot couldn,t run a minodge. We have not heard anything concerning Thai banks losses from the credit crunch, and the dollars downturn!! It seems like it did not affect the banking systems in LOS. Or maybe they hide it better than their western counterparts.
Or is there something they are not telling us!!

__________________
"Don,t f*ck with the baldies*

Loy Toy

How can this crowd mobilize any type of economic recovery package without feet. They seem to have shot both ot them off and due to their decision making over the last 18 months.
Need to drag out all of these political clowns and hang them from the yardarm.

"Good Ship 666 Thailand" as a ship is sinking and all the pirates have escaped. TIT

Butterfly

They don't have the revenues for such ambitious plans, and not the human resources,

their only solutions ? open up so farangs could provide the know-how and do the job for half the time they envision, but it would come at a cost

Norton

I'm sure they are not exactly being transparent about the amount of bad personal debt which is waiting to blow up soon. They did the same in 1997 until they could no longer hide it.

Butterfly

if you look at the business news, there are have been a number of reports about NPL going up etc... no secret, they just don't advertise it on the nightly news, but the reports are there.

1 bank got into serious trouble and is being merged with another. Also their NPL is getting worrisome, but they have the solutions now, they are reselling them to an external asset recovery company

Camel Toe

Kind of late for that isn't it? What are they planning, stringing up even more wires on those shoddy poles?

First off, get your airport out of that swamp. Then bulldoze all the homes and businesses along all the major avenues and widen the roads. Outlaw two stroke tuks tuks. Redo all the water lines. Re-wire all the traffic signals. Sort out matters in the South. Tell Burma to eat the big bamboo.

Mr. Minister, your country is famous for drugs, corruption, and prostitution. It would take three generations to change that, provided an effort was made.

Google English women in images. Google Thai women. See what I mean.

Your ex-investors are, more likely than not, much like stock market day traders. They came, they saw, they didn't like, they pulled out.

Spin

I looked into this and the short and simple answer is that Thai banks avoided large losses as their investing stategies are not sophisticated enough to be dabbling in the kind of toxic shite that everybody else got burned with. So in that sense, they did quite well.

bkkandrew

Thailand's NPL book is about to explode, with a perfect storm of mind-boggling personal debt-to-income ratios, large corporate losses caused by commodity inflation and fantasy investment in real estate.

All nicely hidden 'Thai-style' c/w smile.

Butterfly

^ actually Thai businesses are doing great, at least most of them

the NPL has to do with silly consumers, banks specializing with SME are doing fine though, except they expect lower growth now in that department, and that's normal

Buying Banks securities is always a bad idea anyhow,

bkkandrew

Do you want to have a bet on that?

I can see it now - one year from now, the effects of recession for me staved off my the kindly Euros of the Butterfly!

Butterfly

I already do, and they have been extremely resilient in terms of profit making, amazing.

The only one worth worrying are the property developers, not sure how long they will last, but a 1997 scenario is unlikely even though it could get close

bkkandrew

^Er, so is that a 'yes' or 'no' to the bet then?

Begbie

Got to agree with you. The current give aways, free electric and water and free train rides are signs of a government that doesn't have a clue. Looking around it's very much like the mid nineties.