Even though various members of the Thai government keep saying Thai exports are not going to be affected by the European financial crisis, most people know this isn’t true. So, when the latest report came out yesterday about Thailand’s June export figures being down, and the first half of the year being down by more than 2 percent – no, not surprising at all.
You have to wonder about the mentality of the Thai government sometimes — and it doesn’t matter which party is in power, they’re all the same. They seem to think if you make a statement, regardless that most of the population knows it’s not true, just by making that statement it’s going to make it become a reality. Just like in just about every other idiotic statement various Thai governments have made, the one they made recently about Thai exports not being affected by the Eurozone crisis didn’t come true either.
In fact, Thai exports have been affected so much the Finance Ministry will now be adjusting the annual growth rate expected, down from the over 12 percent growth they originally forecast.
Meanwhile, as the European financial crisis continues to worsen, expect Thailand’s export rate of growth to worsen right along with it. No matter what various members of the Thai government would have you believe.