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Despite Wave of Reforms, Redundancies, Thai Finance Sector Need More Cuts.

Bangkok Post (Bangkok, Thailand)

| February 02, 2002 | COPYRIGHT 2002 Bangkok Post. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Byline: Darana Chudasri

Feb. 2--Despite numerous reforms and downsizing initiatives over the past few years, Thailand's financial sector remains overstaffed relative to those in other countries, according to Asian Banker Research.

In an index of employment in the financial sector as a percentage of the population and GDP, Thailand stands at 9.25, compared with 1.00 for the United States, 2.25 for Singapore, 1.02 for Malaysia and 1.38 for the Philippines.

A recent report on the banking outlook in Asia for 2002 by Asian Banker Research noted that Thailand's financial sector represented 6.1 percent of gross domestic product, compared with 18-19 ...

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