Finance Minister downplays concerns about inflation

Finance and Deputy Prime Minister Surapong Suebwonglee on Wednesday stated that this year’s inflation trend is not worrying although it could be continue to be fuelled by several factors.

He conceded prices of oil, consumer products and transit fares are on an upward trend.

No problem folks : all what you need on a daily basis (transports and food) is going up… And what you don’t need (LCD TV screens) is going down. 😉 Sleep good.

The Finance Minister should talk about the… wages… About purchasing power… And what about prices controls ?

But he was not worried it would fuel the inflationary pressure as many economic forecasters believed the country’s inflation rate this year would not go up to 5 per cent.

Those “economic forecasters” (AKA the government itselft) are totally delusional. And the Finance Minister is delusional to follow them.

Inflation rate for the year will pass the 5 %. It’s a certainty.

The projected inflation rate, which is close to the 5-5.5 per cent level anticipated earlier by the Finance Ministry, should not be of great concern because it is still below that of neighbouring countries such as Singapore and Vietnam where inflation rates stay at 7 and 16 per cent respectively, according to Mr. Surapong. (TNA)

He repeats exactly the same bullshit than the other officials : we do better here in Thailand than in neighbouring countries !

He should explain then the policy of prices controls… If Thailand was not using prices controls… the inflation rate would be like in Vietnam ?

Anyway, it’s business as usual. The thai officials have only one purpose : to tell the people not to worry.

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Thailand Crisis

Coup, Economic slowdown, Terror In the South... The situation is worsening in Thailand. Bumpy road like often before.

But this time, it's different.

The key to understand the present turmoil is the inevitable... succession of King Bhumibol.

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