Oil crisis : the government starts to panic

Finance and Deputy Prime Minister Surapong Suebwonglee will preside over a board meeting of the National Economic and Social Development Office, Fiscal Policy Office, Budget Office and the National Bank tomorrow. The subject will be the impact of the oil price hike, which is predicted to reach 39 to 40 baht per litre, resulting in an increase in the inflation rate.

The oil price base of the Fiscal Policy Office is rising from 83 dollars per barrel to 102 to 103 dollars per barrel which will cause the inflation rate to increase from 4% to 5 to 5.2%.

Big meeting ! They start to panic. They were thinking (like many other politicians and experts in the world), “the oil problem is temporary… everything will go back to normal quickly”.

Bad luck guys… Prices continue to go north.

Let’s hope Surapong really understands the stakes here… And will act like a state man and not like a vulgar politician seeking to be reelected.

Ampon Kittiampon Secretary of the National Economic and Social Development Office said their database will be updated in order to carry out economic evaluations. The oil price will increase from 85 dollars to 110 dollars per barrel, and inflation from 3-3.5% to 4-5%.

Poor NESDO… Always one train, no sorry two trains late… Inflation rate for 2008 between 4 and 5 % ! ? 😉 What a joke… And those guys are paid… It’s really a shame.

You see, that’s a bad omen.

If they continue to take their desires for reality… then it’s very unlikely that they could come forward with innovative and courageous solutions.

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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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