InfoQuest (December 12, 2019) -- Thai Minister of Finance Mr. Uttama Savanayana revealed that recently S&P Global Ratings has adjusted Thailand's economic ranking outlook from "stable" to "positive", and rated the credit rating of government's long-term foreign currency bond as BBB +, that of short-term foreign currency bond as A-2, baht's long-term credit rating as A-2, and its short-term credit rating as A-2.
Positive factors in Thailand include sound financial status and low public debts, solid external balance sheet and liquidity, ppropriate monetary and fiscal policies, excellent state strategy, etc. This elected government is expected to meet people's demands in a better way, and the political stability will facilitate economic reform, public administration and economic growth.
S&P believed that in later stage efforts should be made to closely follow the impacts of China-US trade war on Thailand's export.
For some time past, leading international credit rating agencies have all raised rating outlook of Thai economy. In July 2019, Fitch Ratings and Moody’s Investors Service have both raised Thailand's rating outlook from "stable" to "positive", and maintained the credit ranking at BBB + and Baa1 respectively. In October, Rating and Investment Information, Inc. (R&I) adjusted Thailand's credit rating from BBB + to A-, showing increasing confidence of foreign investors in Thai economy.
The raised rating outlook will build up home and overseas investors' confidence in Thailand, and the progress will boost the government in carrying out state strategic plan and investing more in infrastructure, improving PPP, and enhancing the overall economic competitiveness of the country, noted the Minister of Finance.
Source: InfoQuest, by Kasamarporn Kittisamphan / Rachada, translated by Xinhua Silk Road
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