BOT concern over populist polices
Bangkok Post
Published: 26/04/2011
The populist policies being promoted by electioneering political parties would increase the country's debt, Bank of Thailand governor Prasarn Trairatvorakul said on Tuesday.
"Political parties are promoting their populist policies as the general election approaches but they could cause more debt and a budget deficit in the future.
"The central bank is worried as the financial crises in other countries were caused by debt problems," Mr Prasarn said.
The governor said the financial status of Thailand remained strong and the country's public debt was below 50 per cent of the gross domestic product, but the situation must not be taken lightly.
"If we implement a wrong policy it would take a substantial time to correct the problem, and all sides need to work together," he added.
Source: http://www.bangkokpost.com/news/politics/233785/bot-concerned-over-populist-polices
The populist policies being promoted by electioneering political parties would increase the country's debt, Bank of Thailand governor Prasarn Trairatvorakul said on Tuesday.
"Political parties are promoting their populist policies as the general election approaches but they could cause more debt and a budget deficit in the future.
"The central bank is worried as the financial crises in other countries were caused by debt problems," Mr Prasarn said.
The governor said the financial status of Thailand remained strong and the country's public debt was below 50 per cent of the gross domestic product, but the situation must not be taken lightly.
"If we implement a wrong policy it would take a substantial time to correct the problem, and all sides need to work together," he added.
Source: http://www.bangkokpost.com/news/politics/233785/bot-concerned-over-populist-polices
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