Fiscal discipline can still save the day

Fiscal discipline can still save the day

The military regime blames recent, past government with populist policies that have harmed fiscal discipline.
The military regime blames recent, past government with populist policies that have harmed fiscal discipline.

Fiscal security is of the utmost importance. When the country faces an economic crisis, every government must resort to stimulus measures to reinvigorate the economy. At times, some make use of fiscal measures to narrow the socio-economic gap. Either way, much money is needed.

Over the past 15 years, Thailand has experienced fiscal problems as a result of populist policies that have sucked up vast amounts of state money, especially the controversial rice-pledging scheme introduced by the former Yingluck Shinawatra administration, which ended up costing the state about 500 billion baht. That resulted in the finance ministry working out a budget scheme in hope of clearing the debt within 16 years.

Wichit Chantanusornsiri is a senior economics reporter, Bangkok Post.

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Wichit Chantanusornsiri

Senior economics reporter

Wichit Chantanusornsiri is a senior economics reporter, Bangkok Post.

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