GDP forecast : from -2,5 to – 5 % for the year

Korn, the alleged Finances Minister, is the man who revises GPD forecast faster than his own shadow.

End of march, he said that the economy would contract by 2 to 3 %. Tuesday, he said that it could be worse. And now…

The Thai economy could contract by as much as 5 percent in the aftermath of the recent political upheaval, Finance Minister Korn Chatikavanij said Wednesday.

Mr. Korn said the turmoil had shaken investor confidence significantly, as well as inflicting a major blow on the tourism sector. As a result, academics are now forecasting that the Thai economy will contract in the range of 4.5 to 5 per cent, from the pre-riot forecast of a 3 per cent contraction.

Two million people facing the prospect of job loss and shrinking revenue collections prospect on part of the government are also looming. (TNA)

Now, this is a proof (albeit a late one) of realism… And rationality. 😉

For that matter, Korn is walking his Way of The Cross… It must be painful. But admission is the first step toward wisdom…

However, to claim that the riots are the cause of such revision is of course totally stupid. It’s probably fair game on a political level, but not from an economic point of view.

Anyway. Let’s see now what the government intends to do to fight such (severe) contraction.

Mr. Korn said one possible solution is for the government to speed up the dispersal of some Bt1.5 trillion in economic stimulus measures.

That’s the beauty of it : don’t change a team of losers with losers ideas ! 😉

Korn is powerless and tool-less… The 1,5 trillion THB is speaking about (why not 3 ? 6 ? 10 ?) are totally virtual. This money exists only inside the brain of people foolish enough to believe it exists.

Something I don’t understand : the genius Abhisit’s idea of the special allowance of 2000 THB given to 9 millions people was supposed to “boost ” the economy ? Not anymore ? What happened ? That’s really too bad. ;–)

And Abhisit told us that his government was committed “to spur economy and to lift the quality of life of all the Thais

Yes it was mid january… A century ago…

Anyway : let’s not change anything. Too dangerous and too hard for the neurons. Hope fueled fantasy will do the trick.

And mai pen rai…

13 Responses to “GDP forecast : from -2,5 to – 5 % for the year”

  1. 1 thaichris 17 April 2009 at 4:04 am

    And it might come even worth. Today two gunman shot Sondhi L. He’s i critical condition undergoing surgery. If he dies, Thailand will be on fire. YELLOW will be out again.

  2. 2 Robert 17 April 2009 at 4:06 am

    “Something I don’t understand : the genius Abhisit’s idea of the special allowance of 2000 THB given to 9 millions people was supposed to “boost ” the economy ? Not anymore ? What happened ? That’s really too bad. ;–)”

    Well, the stimulus package is intended to boost the economy from the current situation at the time. I suppose they did not expect people to be shooting each other. This only means that another solution will be needed to fix the new issue.

    and all of this when the world is starting to look towards a recover. Thai people really don’t care about recovery or reconciliation. Just getting revenge.

  3. 3 ThaiCrisis 17 April 2009 at 4:43 am

    Hum… Robert… I was of course ironic… You’re obviously a new reader. I pound the “stimulus”, the “boost” and all the stupid “Dildo Economy” policies since last year, when Samak was elected. 😉

  4. 4 ThaiCrisis 17 April 2009 at 4:45 am

    Yes ThaiChris, it’s not a good news.

    I mean someone would like to create chaos, he would have done exactly the same. It’s now possible that a bunch of PAD fanatics are going to kill a few UDD fanatics, and hop, here we go again.

    But still : the reports are totally insane (like usual)… Bangkok Post says “everything is fine”… Nation says “the bullet is still in the skull… the head” !

    So go figure…

  5. 5 InPhuket 17 April 2009 at 5:06 am

    Manager Online has a picture if him, walking with blood running out of his head (I think that’s him, but correct me if I am wrong)
    Click on the pictures and more will come up

  6. 6 ray 17 April 2009 at 6:18 am

    sonthi if fine. he was able to walk and talk afetr getting shot. there were 100 rounds fired. he walked out of the car as well. the underground operartion that jackaphob was talking about. it will not stop here. also have u noticed the security on pm abisit lately? water tight!

    i think now the manager/astv will gain more pupularity. publicity is always good. and this kind is great! i wish sonthi a very speedy recovery.

  7. 7 bedwyr 17 April 2009 at 8:41 am

    They shot the car tyres out. Sounds like military. They used AK automatic guns. Sounds like military.

    They fired 100 rounds and still didn’t kill him?

    Must be Thai then.


  8. 8 ThaiCrisis 17 April 2009 at 8:45 am

    Maybe “they” didn’t want to kill him….

    As usual the story is not very clear. I read somewhere that the pickup (of attackers) exchanged gun fire with another vehicle (that chased them ?)… before to escape.

    Furthermore it gives the perfect political opportunity for Abhisit to… keep emergency decree.

    Which he did a few hours after the attack. 😉

  9. 9 Mony 17 April 2009 at 9:36 am

    Yeah, they didn’t want to kill him. They hired expert people to put a bullet in his head without killing him. *notice the sarcasm*

    Back to the economic topic
    More spending, less taxes collected, and more borrowing: sounds like a great plan – to put your country into more debt and financial turmoil.

  10. 10 John 17 April 2009 at 10:22 am

    Two gunman standing at point blank range next to mr Sondhi firing hundred bullets……………………….without killing him.
    How do you digest this?
    Looks more like a thai trick by mr. Sondhi himself.

  11. 11 Bedwyr 17 April 2009 at 1:08 pm

    The stuff of dreams and rabbit holes is it not?

    I speak to a lot of Thais. If you say to them that they have the appearance of being unintelligent and incompetent they get all upset (don’t know why…)

    And yet…

    100 bullets, less (say) 40 for the tyres (assuming they couldn’t hit them first time even at 20cm). That is 60 bullets in the car to kill one guy.

    And all he got was a bit of ricochet shrapnel. The driver came off worse. perhaps they thought Sondhi was driving? Who cased the joint? Send him back to school. Driver – usually front seat, boss – back seat…

    I would really be impressed to see people who really are incompetent…


  12. 12 ThaiCrisis 17 April 2009 at 2:28 pm

    What is striking are… the holes.
    Look at the pictures :

    He has been… really lucky !

    One question : is it a special security glass ? The front pannel has a least 20 bullets holes… but didn’t break.

    I thought that AK47 and/or M16 would be more powerful, particularly at short range.

    I will put on line an article and several pictures published by Manager (but they seem to have been removed)

  13. 13 ray 18 April 2009 at 4:31 am


    i think u are mistaken about gunmen standing and shooting. they fired on sonthi’s car from the back of a pick up truck about 20-30 mts in front of sonthis car.

    aot of people are saying its not red shirts or thaksin. its blue group aka newin/pravit/patcharat wongsuwan. because after the songkran near massacre red shirts got out looking bad and the above mentioned people looked even worse.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

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.

%d bloggers like this: