TITLE

Thailand Cuts Fuel Subsidies

PUB. DATE
August 2005
SOURCE
Asia Monitor: South East Asia Monitor Volume 1;Aug2005, Vol. 16 Issue 8, p3
SOURCE TYPE
Country Report
DOC. TYPE
Country Report
ABSTRACT
The article reports that the government of Thailand has reduced diesel fuel subsidies in a move which is expected to increase the price of diesel fuel in the country by at least 20%. The policy of subsidizing fuel was introduced to shield consumers from the full impact of rising oil prices. However, it has been criticized for not providing consumers with any incentive to consume less fuel, even though prices have been rising. On announcing the cuts in the fuel subsidy, the prime minister was also forced to reduce his forecast for economic growth for 2005, with the government now forecasting economic expansion at 5.25-6.25%, compared with an earlier forecast of 5.50-6.50%.
ACCESSION #
17651085

 

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