US fiscal cliff 'could hurt Thai growth'

ECONOMY

US fiscal cliff 'could hurt Thai growth'

Published: 15 Dec 2012 at 00.00
Newspaper section: Business

Failure to resolve the US "fiscal cliff" by the year-end could significantly cut growth in Asia-Pacific, one expert said yesterday.

Anis Chowdhury, director of macroeconomic policy and development at the UN Economic and Social Commission for Asia and the Pacific (Escap), said while most countries do not expect the fiscal cliff to happen, the failure to resolve it could potentially cut Thailand's gross domestic product (GDP) by 0.5 percentage points, given the country's trade exposure to the US, both directly and indirectly.

The fiscal cliff refers to a commitment by the US Congress to the expiration of a range of tax cuts as well as implementation of big spending cuts of US$1.2 trillion over a 10-year period starting from the end of this year.

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DONHUAN
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Discussion 2 : 15 Dec 2012 at 16.182
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Don’t worry about other people’s “fiscal cliff”; start worrying about our own “fiscal black holes”, all those under supervised mega spending “projects’, more subsidies for the “people” and lower taxes across the boards. Some people never learn.
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boons
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Discussion 1 : 15 Dec 2012 at 04.181
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So Thailand's growth is dependent on the USA taking on more debt and spending money they don't have. What does that tell you about the sustainability of Thai growth?
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US fiscal cliff 'could hurt Thai growth' | Bangkok Post: business