France's unrest warns Thailand on debt and fiscal discipline

Thai economists say France's unrest shows how chronic deficits and rising debt can erode public services and fiscal flexibility, warning Thailand to heed the lesson. Over 500,000 people demonstrated in France over school conditions, living costs, and underfunded services, with about 2,400 arrests by October 19. France's deficit hit 5.1% of GDP in 2025, with public debt at 115.6% and 10-year bond yields near 4.9%. Economists Athiphat Muthitacharoen, Prasarn Trairatvorakul, and Supavud Saicheua urged Thailand to maintain balanced budgets and fiscal credibility, noting France's high taxes and political resistance limit reform options, with potential spillover risks to the eurozone.