Home | China | World | Business Thai Economy Not to Plunge Into New Crisis WED, FEB 20, 2002     The Thai economy would not plunge into a new crisis in a similar way Argentina is experiencing because its economic fundamental is stronger, the Thai News Agency reported Wednesday. Speaking at a debate on "Lesson of Economic Crisis from Argentina to Thailand" held Tuesday by the opposition Democrat Party, Ammar Siamwala, a prominent academic at the Thailand Development Research Institute, said the economic situation in Thailand is now much different from that in Argentina. The current economic conditions in the Latin American country are as critical as those of Thailand in 1998. The Thai economy had now improved significantly, he said. In his personal view, the public debts, which are likely to rise by five percent of gross domestic product annually, are a critical problem that needs to be solved carefully. Ammar said the Thai economy is heavily linked with the global economy. So, should the world economy recover late this year as many expected, the country's economy would benefit from the situation. Chavin Leenabanchong, lecturer of Thammasart University's Economics Faculty, said the economic crisis in Argentina stemmed mainly from the government's policy to focus on spending the social development, which did not greatly benefit the overall economy. He said Thailand still had many distinguish differences from Argentina's. The state should not be given too much power to prepare budget without regard to the possible increase in public debts. The public should be encouraged to help address the economic woes because the actual economic recovery is the restoration of the public confidence in the economy, he added. Editor:casey Source:Xinhua Recommend to your friend email:    China Central Television,All Rights Reserved