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- W2496006931 abstract "This volume has the following assessment about the Thai economy: The economy is still in the midst of a recession, with net exports as the only positive expenditure component of Gross Domestic Product during 1998. The prospects for growth in 1999 looked dim but the large fiscal stimulus package, lower interest rates and exchange rate stability provide the basis for a cautious optimism. The combined effect of increased deficit spending, increasingly supportive monetary policy, and overall macroeconomic stability reflected in the strengthening baht and rising stock prices will trigger positive growth in private consumption in the latter part of 1999. Thus, the Government and the International Monetary Fund expect growth to be modest for all of 1999, around 1 percent. However, the risk of external shocks and the debt overhang are still threatening the recovery process and structural reforms remain a priority to provide the basis for sustained growth. Without progress in corporate and financial sector restructuring, the 75 billion baht additional government spending will have a limited effect in jump starting the economy. Moreover, major progress in the restructuring process will require the adoption of effective bankruptcy and foreclosure legislation." @default.
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- W2496006931 date "1998-12-31" @default.
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- W2496006931 title "Thailand economic monitor" @default.
- W2496006931 hasPublicationYear "1998" @default.
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