Off the boil but still hot

Article Abstract:

Thailand's political image has been marred by the massacre of demonstrators in Bangkok in May 1992. This situation has, fortunately, not affected the continued economic growth of the country. Exports have been rising and the economy has been expanding at the rate of 15%, a fact that contrasts with the general weakness of the economies of the West and Japan on account of the global recession. The September elections, however, would be a guage as to whether the government could continue to pursue sound financial policies. The temptation to indulge in sizeable government spending could upset the present economic trend.

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Speeding ahead

Article Abstract:

An improvement in consumer confidence in the economy and the buying power of the middle class in Thailand in 1992 is indicated by strong vehicle sales and increased bank lending. The new government led by Prime Minister Chuan Leekpai has also helped improve confidence in the economy. New vehicle sales in the country went up by 19% in the first eight months of the year, with new passenger car sales jumping by 60%, and cumulative bank lending from 15 commercial banks increased by 20% in the first seven months.

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Stirred, not shaken

Article Abstract:

Thailand's economy is forecast to attain a growth rate of 7.5% to 8% for 1992. Some negative developments may, however, prevent the achievement of this growth rate. The most important factors are the imposition of a 7% value-added tax (VAT), the decreasing capital investments and the government's budget deficit. Consumers have cut down on spending in response to higher prices caused by the VAT. The country may still attain the forecasted growth rate because its exports are still increasing by 23% annually.

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