Facing new realities: politicians' spending clashes with need for fiscal discipline

Article Abstract:

Thailand's economy is slowing down, largely as a result of Thailand's wish to move from labor-intensive industries to high technology. This has lead to transitional problems including overspending by the government, and conflicts between monetary and fiscal policies. The 1996 GDP is estimated to be 7.8%, the lowest in ten years. The Stock Exchange of Thailand reached a recent low and the baht market has been volatile because of devaluation rumors. Textile exports are also down. However, high technology exports are improving.

Industrial development, Industrialization

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Not a pretty picture: after Vijit, Thai central bank needs a makeover

Article Abstract:

Thai central-bank governor Vijit Supinij resigned under pressure on July 2, 1996, amid a series of crises that have weakened the bank's authority at a crucial time. Efforts to liberalize the economy and the financial sector may now encounter trouble. The central bank could not prevent the collapse of Bangkok Bank of Commerce under a load of bad loans, mostly to bank officers and politicians in the ruling Chart Thai party. Vijit himself has played a questionable and perhaps overly political role in recent decisions, as well.

Regulation, Licensing, and Inspection of Miscellaneous Commercial Sectors, Banking Regulation, Management, Appointments, resignations and dismissals, Central banks, Banking law, Thailand. Bank of Thailand, Vijit Supinij

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Not to worry

Article Abstract:

Inflation remains Thailand's most prominent economic concern but could remain below 5% for the year thanks to Bank of Thailand efforts, a falling yen, and a likely bumper crop keeping down food prices, the major inflation component. More challenging is the trade deficit, up 42% in the first six months to $6.6 billion, with a likely 1995 year-end total of about 6.3% of GDP. Lower oil prices and a weaker yen, in which nearly a third of all imports are denominated, should help there as well.

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