ID :
200027
Tue, 08/09/2011 - 10:49
Auther :
Shortlink :
http://m.oananews.org//node/200027
The shortlink copeid
Thai economy unlikely to be seriously affected by superpowers' crisis
BANGKOK, August 9 (TNA) - Thailand's economic fundamentals, including financial status, remain strong and is unlikely to be seriously affected by the ongoing debt crisis in the United States and Europe.
Former Thai commerce minister Narongchai Akkaraseranee, who is also a leading Thai economist and a top business executive, made the comments on Tuesday, acknowledging that the Thai economy has been cushioned by its firm financial status with high foreign exchange reserves of over 185 billion US dollars in mid 2011 and a low level of public debt at some 46 per cent of the country's gross domestic product (GDP).
Narongchai said that Thailand has also experienced in resolving a regional economic crisis in the late 1990 with its strengthened financial sector and regulators to strictly and effectively enforce relevant laws and measures. Therefore, Narongchai noted, the Thai economy should be now able to withstand any global economic "fire wall" caused by the ongoing crisis in the US and European powerful economies.
The former Thai commerce minister also dismissed public concerns over the new Pheu Thai Party-led government's huge spending to sponsor its populist policies, saying that the state budget spending is automatically framed by limited resources and legislation.
The former Thai commerce minister, who is also a former senator, suggested that the new Thai government join forces with high-liquidity private firms in mega-investment projects to save state budget. (TNA)
Former Thai commerce minister Narongchai Akkaraseranee, who is also a leading Thai economist and a top business executive, made the comments on Tuesday, acknowledging that the Thai economy has been cushioned by its firm financial status with high foreign exchange reserves of over 185 billion US dollars in mid 2011 and a low level of public debt at some 46 per cent of the country's gross domestic product (GDP).
Narongchai said that Thailand has also experienced in resolving a regional economic crisis in the late 1990 with its strengthened financial sector and regulators to strictly and effectively enforce relevant laws and measures. Therefore, Narongchai noted, the Thai economy should be now able to withstand any global economic "fire wall" caused by the ongoing crisis in the US and European powerful economies.
The former Thai commerce minister also dismissed public concerns over the new Pheu Thai Party-led government's huge spending to sponsor its populist policies, saying that the state budget spending is automatically framed by limited resources and legislation.
The former Thai commerce minister, who is also a former senator, suggested that the new Thai government join forces with high-liquidity private firms in mega-investment projects to save state budget. (TNA)
