BoT reviews forecasts again

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Published: 28 Sep 2012 at 16.28
Online news: Local News

The Bank of Thailand is considering changing its economic and export growth figures and will release them after the next meeting of its Monetary Policy Committee on Oct 17.

Mathee Supapong, a senior director at the central bank, made the comment following the release on Friday of revised economic data for August, which was marked by a further slowdown in exports.The central bank currently forecasts 7% annual expansion in exports for 2012 and 5.7% growth in gross domestic product.The dollar value of exports in August fell 5.1% from a year earlier, as the prolonged global economic slowdown continued to affect demand for Thai goods.Mr Mathee said imports of raw materials...

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bluebottle
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Discussion 7 : 28 Sep 2012 at 20.127
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meme no they did not promise 15% the PM did there is a difference some where along the line.I thank. I do believe we are being prepared for much worse figures by this statement though.If Europe are not buying China's exports are well down so it is unlikely they will be buying much and they are big enough to stand alone. America is bouncing along the bottom so they are importing less.May be Thailand needs to look at south America by all indications some countries there are doing well.The worst thing to me is that Thai people are subsidising the export trade by there low wages like most Asian countries.Time is a big leveler.
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rontorr
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Discussion 6 : 28 Sep 2012 at 19.466
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now they just need to get their greedy little mitts of of the exchange rate.
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flpatbkk
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Discussion 5 : 28 Sep 2012 at 19.195
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Wasn't it just a few months ago that we were being told that Thailand would not be affected by the financial crises in Europe and the US? A day late and a dollar short fits the bill. Countries like Singapore, Indonesia, Malaysia and Myanmar will eat these people alive. Looking to 2015 as the date of salvation is another pipe dream. Maybe the pols could return some of the 50% they skim off the top to bail out the country.
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khunbj
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Discussion 4 : 28 Sep 2012 at 18.304
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@ boons , sounds like you picked the wrong country, US, Uk are going down the drain fast, Asia will survive and Thailand will do just fine. Concerning the ASEAN, I assume you refer to AEC then please do a bit of background research first, Thailand is as ready or not ready as all the other countries. There will be issues of course for every country, we already saw yesterday that Thailand may face a shortage of nurses as they are offered very high paid jobs in Singapore...it is until now the only factual example I have seen until now, maybe you have some other factual examples ?
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khunbj
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Discussion 3 : 28 Sep 2012 at 18.133
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In it's latest revision from September the IMF expect Thai GDP to increase with 5,5% and for the period 2012-16 it expect the growth to be 6%. As a comparison the GDP growth in the UK in 2012 is expected to be -0,7 % a contraction . Even though that Thailand has the extra influx of tourist, and this is projected to increase drastically with more asian arrivals, then it is also important to focus at new ways of increasing the export value, one of many ways could be the food sector, adding more value to the products before exporting them, instead of just exporting the raw material. Thailand need it's own Nestle or similar, raw materials are available.
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boons
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Discussion 2 : 28 Sep 2012 at 17.472
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This article is almost 1 year late. Everyone knew the European slowdown was going to affect exports. Apparently the BoT just figured it out. Good work BoT!

For the BoT's next remarkable piece of deduction, maybe they can explain how ASEAN is going to represent anything other than brutal competition for the Thai manufacturing sector -- instead of claiming that poorer countries represent export markets and net profit centers.

Prepare for the BoT to figure out where they went wrong some time around 2020. In the mean time, prepare for a sharp rise in unemployment after 2015. Followed by calls for something called "stimulus".
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meme
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Discussion 1 : 28 Sep 2012 at 17.141
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But didn't the regime promise 15% export growth? Ohh - I forgot, that was one of those little white lies ...
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BoT reviews forecasts again | Bangkok Post: news