Fiscal Policy, Debt and Budget Deficits in Thailand
Fiscal Policy, Debt and Budget deficits in Thailand
The size of Thailand government debt To judge the size of Thailand government debt is to compare it to the debt of other countries and to the debt that Thailand has had during the own past. Table 1 shows the amount of government debt for 34 countries express as a percentage of each country’s GDP in year 2009 and year 2010.On the top of the list are the heavily indebted countries of Japan and Italy, which have accumulated a debt that exceed annual GDP. At the bottom are Luxembourg and China, which have accumulated relatively small debts. The United States is in the middle of the pack. Thailand debt is around 30% of GDP.
TABLE 1: How Indebted Are the World’s Governments? Country Government Debt as a percentage of GDP Country Government Debt as a percentage of GDP 2009 2010 2009 2010 Japan 192.8 198.4 Spain 62.4 72.2 Italy 127.7 131.3 Poland 58.5 63.9 Greece 120.2 129.2 Finland 52.6 58.4 Iceland 119.5 124.9 Sweden 51.9 51.3 Belgium 100.4 102.5 Denmark 51.8 53.7 France 87.1 92.4 Norway 49.5 51.8 Euro area 86.3 91.6 Slovenia 44.1 49.9 Portugal 86.3 92.9 Czech Republic 42.4 49.0 Hungary 85.2 89.0 Switzerland 42.2 42.1 United States 84.4 92.8 Slovak Republic 39.8 47.1 Canada 83.4 84.4 New Zealand 34.5 38.8 Israel 79.2 79.4 Korea 32.6 33.2 Germany 76.5 79.9 Thailand 28.8 29.6 Austria 72.7 75.9 Indonesia 27.4 30.0 Ireland 72.7 104.9 Australia 19.2 23.6 United Kingdom 72.4 81.3 Luxembourg 18.0 21.0 Netherlands 69.4 74.6 China 16.9 22.0 Source : OECD Economic Outlook ,MIF and BOT
Over Thailand history ,the indebtedness of the government has varied substantially. Figure 1 shows the ratio of the government debt to GDP since 1988.
FIGURE 1: The Ratio of Government Debt to GDP Since 1988 Source : BOT Thailand current government debt is of a
The size of Thailand government debt To judge the size of Thailand government debt is to compare it to the debt of other countries and to the debt that Thailand has had during the own past. Table 1 shows the amount of government debt for 34 countries express as a percentage of each country’s GDP in year 2009 and year 2010.On the top of the list are the heavily indebted countries of Japan and Italy, which have accumulated a debt that exceed annual GDP. At the bottom are Luxembourg and China, which have accumulated relatively small debts. The United States is in the middle of the pack. Thailand debt is around 30% of GDP.
TABLE 1: How Indebted Are the World’s Governments? Country Government Debt as a percentage of GDP Country Government Debt as a percentage of GDP 2009 2010 2009 2010 Japan 192.8 198.4 Spain 62.4 72.2 Italy 127.7 131.3 Poland 58.5 63.9 Greece 120.2 129.2 Finland 52.6 58.4 Iceland 119.5 124.9 Sweden 51.9 51.3 Belgium 100.4 102.5 Denmark 51.8 53.7 France 87.1 92.4 Norway 49.5 51.8 Euro area 86.3 91.6 Slovenia 44.1 49.9 Portugal 86.3 92.9 Czech Republic 42.4 49.0 Hungary 85.2 89.0 Switzerland 42.2 42.1 United States 84.4 92.8 Slovak Republic 39.8 47.1 Canada 83.4 84.4 New Zealand 34.5 38.8 Israel 79.2 79.4 Korea 32.6 33.2 Germany 76.5 79.9 Thailand 28.8 29.6 Austria 72.7 75.9 Indonesia 27.4 30.0 Ireland 72.7 104.9 Australia 19.2 23.6 United Kingdom 72.4 81.3 Luxembourg 18.0 21.0 Netherlands 69.4 74.6 China 16.9 22.0 Source : OECD Economic Outlook ,MIF and BOT
Over Thailand history ,the indebtedness of the government has varied substantially. Figure 1 shows the ratio of the government debt to GDP since 1988.
FIGURE 1: The Ratio of Government Debt to GDP Since 1988 Source : BOT Thailand current government debt is of a