The Finance Ministry has brushed off critics suggesting a near-bankruptcy status of the government’s fiscal position by citing Thailand’s economic fundamentals.
The three indicators exemplifying the health of the country’s fiscal position are GDP ratio, foreign reserves and the public debt-to-GDP ratio, said Finance Minister Arkhom Termpittayapaisith.
A country’s GDP growth has to continuously expand with stability, whether through higher or lower growth rates, he said.
Thailand’s GDP growth ratios averaged between 1-4.2% from 2013 to 2019, a huge difference from 7.2% growth registered in 2012 when the economy recovered from the 2011 flood…
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