Reality bites
Article Abstract:
International investors have displayed a cautious reaction to the change of government in Thailand on Nov 9 1997. They are waiting for the government's presentation of its policies on Nov 19 1997, and watching to see if the Democrat Party leaders demonstrate the willingness to be accountable. There may also be severe problems ahead for the Thai economy, particularly if Japanese banks undergo difficulties. Experts believe that it has short-term debts amounting to $20 billion due at the end of 1997, and any trouble in the Japanese banks would cause them to call in their share of the loans.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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Tough medicine
Article Abstract:
Foreign investors are pleased that the Thai government intends to curb public spending to improve the country's struggling economy but will continue to lack confidence until further details are known. A two-year plan to reduce budgetary expenditure by 100 billion baht will achieve gross domestic product growth of 7%, according to Finance Minister Amnuay Virawan. Import reductions are of paramount importance to economic policy. Expenditure reductions to defence and airline sectors are discussed.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1997
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Amnuay's plan
Article Abstract:
The new government of Thailand has adopted an economic policy which focuses more on fiscal than monetary restraint. It hopes to encourage economic growth through loosening previous restrictions on credit, and finance minister Amnuay Virawan is aiming for a current account deficit below the present 8% of GDP. Banks have responded to the concerns of businesses by reducing the base lending rate by a quarter point to 13.25%.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1996
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