On 22 April, Finance Minister Arkhom Termpittayapaisith cautioned the country about our high household debts, which he said are high compared to other countries and are even higher now due to the COVID-19 Pandemic.
The Finance Minister said this is a risk for our aging society and urged saving discipline.
On 26 April, Energy Minister Supattanapong Punmeechao said the opposite. The Energy Minister really wants the economy to grow by 4%. He wants this so much that he will introduce measures to urge the people to spend.
“If you love the country, please go into your savings and spend,” he said.
It makes perfect sense that the Energy Minister made this plea right after an economic and national security meeting chaired by General Prayut Chan-o-cha. One man couldn’t have come up with this idea. Such nonsense has to be collective.
The question is, was the Finance Minister in the same meeting? Did they talk?
“If the Thai people help by spending, perhaps we will achieve the 4% GDP,” the Energy Minister said. “If you spend half of your savings, the economy will grow by 1%,”
“Please sacrifice for the country.”
Meanwhile, the tourism forecast drops by half from six million people to three million people because of the third COVID-19 outbreak and slowness in vaccination. Kitanakin Bank puts economic growth at 2.2%. Of course, people aren’t spending.
Then there’s the lockdown that is not called a lockdown, and how are we even to spend?
New sneakers to run in the park? Parks are closed. Fancy dinner at an expensive restaurant? 9pm closing; can’t drink alcohol. New gym membership? Gyms are closed. New brand name clothes? To go where, 7-Eleven? Plane tickets and luxury resorts? Can’t travel.
Besides, we have to save our money because it’s a 20,000 baht fine for not wearing a mask in public or our private car.
2021-04-27