Thailand's public debts have decreased

Thailand’s public debts have continued to decrease partly because power authorities have delayed their investment projects.

Caretaker Finance Minister Thanong Bidaya (ทะนง พิทยะ) said he was satisfied that the public debts had reduced to 3.20 trillion baht, or 41.4% of the country’s GDP, in March, a decrease from 3.27 trillion baht, or 46% of the GDP, recorded in September, last year.

Mr. Thanong attributed the reduction to a slowdown in investment by state enterprises responsible for electricity production and distribution following a drop in demand for electricity. Improvement of debt management efficiency was another reason, he said.

Mr. Thanong believed public debts would still not exceed 50% of GDP in the wake of construction of several mega-projects.

Source: Thai National News Bureau Public Relations Department - 03 June 2006

http://www.bangkokpost.com/News/04Jun2006_news01.php

Minister thinks another financial crisis might be on the way.

http://www.bangkokpost.com/News/04Jun2006_news01.php

Minister thinks another financial crisis might be on the way.

In regards to the above;

Paiboon Wattanasiritham, chairman of the Centre for the Promotion of National Strength on Moral Ethics and Values, said His Majesty the King's self-sufficiency economic policy was an answer as Thailand faced a looming economic crunch.

He vehemently disagreed with a government idea that economic success could bring more happiness to society.

Instead of focusing on gross domestic product, the government should devise a tool to measure the happiness of the people. This method has been used by Bhutan, he said.

This is a interesting position. Lord knows happiness is not busting out all over in the US where we are just so rich and fulfilled