Balancing act
Article Abstract:
Thailand's economy remains strong overall but the recent economic turmoil in Mexico has drawn attention to its own continuing current-accounts deficit.Foreign funds continue to play an important role in the Thai economy despite a domestic savings rate of 35%. In 1994 the current-account deficit was $8.5 billion, 5.9% of GDP, up 20% from 1993. Bank of Thailand economists expect it to become 5.8% of GDP in 1995. Its balance of payments continues to run a surplus. Tighter liquidity will help keep inflation down even though it may cause an increase in interest rates.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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Balancing act
Article Abstract:
The Chart Thai Party's victory in Thailand's July 2 elections showed the strength of traditional money politics and raises fears about the new govt's effect on the economy. Chart Thai quickly assembled a coalition called the Thai Development Party, including the Nam Thai, New Aspiration, Palang Dharma, Prachakorn Thai, Social Action, and Muanchon parties, giving it 233 of the 391 seats in parliament. Chart Thai is more conservative than its predecessor, and has several senior politicians linked to the drug trade.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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Comment about this article or add new information about this topic:
Hot or not?
Article Abstract:
The economy of Thailand continues to grow at an astronomical rate and, despite some signs of an impending downturn, may be able to continue growing. Inflation was 5.4% for the year ending April 1995, but most of the increase was due to rising food prices. A large accounts-current deficit, seen by some as a problem, may actually be fueling growth by providing high levels of investment and the importation of capital goods that will eventually be used to make exportable goods.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
User Contributions:
Comment about this article or add new information about this topic:
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