The government on Tuesday welcomed the latest assessment by global credit rating agency S&P Global Ratings, stating that the rating reflected confidence in the country’s economic management.
S&P on Monday affirmed Thailand’s credit rating at BBB+ and retained its stable outlook for the country.
The agency projected Thailand’s gross domestic product (GDP) growth at 2.3% in 2025 and 2.6% in 2026 despite external risks, particularly the US trade tariffs. Over the 2025–28 period, average annual GDP growth was forecast at 2.8%. Per capita income was expected to increase from US$7,500 to US$8,100 this year, partly due to a stronger baht.
In response to S&P, government spokesman Jirayu Houngsub stated that the rating and outlook demonstrated the trust of investors and analysts in the government’s direction and initiatives.
S&P highlighted the government’s commitment to strategic investment, including the Eastern Economic Corridor and the development of transport infrastructure, as well as its continued support for public-private partnership projects, as key factors to enhance long-term competitiveness.
The outlook was also supported by the country’s strong international financial position and high foreign exchange reserves, according to the spokesman.
Mr Jirayu reaffirmed the government’s determination to restructure the economy to make it modern and resilient, while maintaining fiscal discipline and fostering investment.
Prime Minister Paetongtarn Shinawatra has instructed relevant agencies to address pressing problems, including household debt, income inequality, and rising living costs, and roll out measures to stimulate the economy, he added.
He said the government has systematically implemented its economic stimulus plan using the four “engines” of private consumption, exports, public investments and private investments.
“The latest assessment by S&P Global Ratings is a strong sign that the government is on the right track. It reflects its confidence in the government’s plan to prepare the country for global challenges,” he said.
In December of last year, S&P maintained Thailand’s credit rating at BBB+, anticipating the Thai economy would grow by 2.8% last year and 3.1% this year. It predicted the Thai economy would recover from what was considered to be modest 1.9% growth in 2023, supported by a tranche of stimulus measures and a rebound in the tourism sector.
credit : https://www.bangkokpost.com/business/general/3041181/sp-credit-rating-cheers-thai-government
