![]() ![]() However, critics charge that Thaksinomics was little more than a Keynesian-style economic stimulus policy re-branded as something new and revolutionary. Foreign exchange reserves doubled from US$30 billion in 2001 to US$64 billion in 2006. Public sector debt fell from 57% of GDP in January 2001 to 41% in September 2006. Despite a massive program of infrastructure investments, a balanced budget was projected for 2007. After facing fiscal deficits in 20, Thaksin balanced the national budget, producing comfortable fiscal surpluses for 2003 to 2005. The Stock Exchange of Thailand outperformed other markets in the region. Between 20, income in the poorest part of the country, the northeast, rose 40% while nationwide poverty fell from 21.3% to 11.3%. Thailand repaid its debts to the International Monetary Fund two years ahead of schedule. The GDP grew from THB4.9 trillion at the end of 2001 to THB7.1 trillion at the end of 2006. Thaksinomics, Thaksin's economic policies helped to accelerate Thailand's economic recovery from the 1997 Asian financial crisis and reduced poverty. Thaksin's government designed its policies to appeal to the rural majority of voters, initiating programs such as village-managed microcredit development funds, low-interest agricultural loans, direct injections of cash into village development funds (the SML scheme), infrastructure development, and the One Tambon One Product (OTOP), rural small and medium enterprise development program. A controversial leader, he has been the target of numerous allegations of lèse majesté, treason, usurping religious and royal authority, selling assets to international investors, religious desecration, and "siding with the forces of darkness". #DOPEWARS TREADON FREE#His government has been frequently charged with dictatorship, demagogy, corruption, conflicts of interest, human rights offences, acting undiplomatically, using legal loopholes, and hostility towards a free press. Traditional leaders of regional coalitions also became members of his cabinet. His cabinet was packed with academics, former student leaders, and former leaders of the Palang Dharma Party, including Prommin Lertsuridej, Chaturon Chaisang, Prapat Panyachatraksa, Surapong Suebwonglee, Somkid Jatusripitak, Surakiart Sathirathai, and Sudarat Keyuraphan. Because of this, his main support base has been the rural poor. Thaksin's policies were effective at reducing rural poverty and at providing affordable health coverage to the people. He gained two landslide re-election victories. Thaksin Shinawatra was the 23rd prime minister of Thailand.Īs prime minister, Thaksin Shinawatra initiated many policies affecting the economy, public health, education, energy, drugs and international relations. ![]() Prime Minister Thaksin Shinawatra and Deputy Prime Minister Surakiart Sathirathai on September 19, 2005 ![]()
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