Bangkok to cut spending by $3.24 billion; government expects to continue its record of balanced budgets

Article Abstract:

The Thai cabinet will slash the planned government and state enterprise spending in the current FY ending Sept. 30, 1997, by at least 84 billion baht ($3.24 bil). The cuts have been sparked by falling revenue collection and ballooning current-account deficit. Revenue collections are projected to reach only 944 bil baht in FY96, while current-account deficit increased to 8.2% of GDP. The move is expected to cut the projected economic growth to 6.8% in 1997 from the previously announced 7.1%.

Economic aspects, Government spending policy

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Chavalit outlines his plans

Article Abstract:

New Thai Prime Min. Chavalit Yongchaiyudh has announced his plans for the economy which observers believe are difficult to achieve considering that his economic team comprises individuals belonging to opposing parties who have divergent economic views. Chavalit promised to undertake fiscal and monetary measures to improve the economy and enhance the competitiveness of Thai exports.

Evaluation, Officials and employees, Chaovalit Yongchaiyuth

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