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Why Reconciliation Fails in Thailand ?

Thailand’s problem is that those who keep winning elections are not allowed to rule, whereas others who ultimately call the shots cannot win elections. [Thanks to Bangkok Pundit for pointing me to Thitinan’s op-ed]

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After some time on vacation, I have returned to find that Thai politics, which almost couldn’t get worse, actually has. Last month, Thitinan Pongsudhirak, in my opinion the most astute observer of Thai politics, captured the fundamental tension in Thailand today in an op-ed:

Thailand’s problem is that those who keep winning elections are not allowed to rule, whereas others who ultimately call the shots cannot win elections. [Thanks to Bangkok Pundit for pointing me to Thitinan’s op-ed]

Thailand middle classes are becoming increasingly skeptical of the benefits of democratization

That, in a nutshell, is Thailand’s dilemma, one shared by many middle-income developing nations where middle classes are becoming increasingly skeptical of the benefits of democratization, as I discuss in my forthcoming book The Decline of Democracy (Yale University Press).

via Asia Unbound » Thailand: Reconciliation Fails.

Economics

Thai Government Plans to Increase 2022 Investment Budget by 90 Billion baht ($2.84 bln)

According to the 2022 fiscal budget bill, which has public spending set at 3.1 trillion baht, accounting for 17.9% of GDP, the government would need to borrow 700 billion baht to offset the deficit.

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BANGKOK (NNT) – The Budget Bureau notes that the Thai government plans to increase its investment budget by 90 billion baht in the fiscal year 2022, in compliance with a law related to state financial and fiscal discipline.

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Banking

Fitch Affirms Thailand’s rating at ‘BBB+’ with a Stable Outlook

Fitch forecasts Thailand’s tourism-dependent economy will recover only modestly, by 1.8% in 2021 after a sharp 6.1% contraction in 2020.

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Don Mueang Bangkok domestic airport
Empty seats tagged with social distancing await passengers in Don Mueang Bangkok domestic airport

Fitch Ratings has affirmed Thailand’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB+’ with a Stable Outlook.

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