Thanong warns against new risks
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Former finance minister Thanong Bidaya said the Thai economy is undergoing a situation which is completely different from the situation preceding the 1997 economic crisis.
At a seminar hosted by the Fiscal Policy Office, he said the economy was faced with four "highs" - borrowing, foreign debt, government spending and high economic growth rate. Now, the economy suffers three "lows" including low unemployment and economic growth.
"The different condition does not mean that another crisis will not happen," he said.
He noted that low economic growth would pressure government revenue.
