Bangkok: S and P Global Ratings has assigned Thailand a BBB+ credit rating with a stable outlook, according to a government spokesman. The rating reflects solid reserves, strong international finances, and a positive economic plan, underscoring investors’ confidence in the country’s stability.
According to Thai News Agency, Mr. Jirayu Huangsap, spokesman of the Prime Minister’s Office, detailed that the rating from S and P Global Ratings reflects confidence in Thailand’s economic management approach. The government’s policies focus on tangible results, laying the foundation for economic structure improvement, restoring confidence, and addressing global challenges systematically.
The global credit rating agency forecasts the Thai economy to grow by 2.3% in 2025 and 2.6% in 2026, despite potential risks from external factors like US retaliatory tariffs. During 2025-2028, real GDP is projected to grow by an average of 2.8% annually, with per capita income expected to increase from US$7,500 to US$8,100 in 2025, partly due to a stronger baht.
Mr. Jirayu noted that S and P recognizes the Thai government’s focus on planned investments, particularly in the Eastern Economic Corridor (EEC) project and transportation infrastructure. These initiatives, along with public-private partnership (PPP) projects, are crucial for enhancing the country’s competitiveness. Additionally, Thailand maintains a strong international financial status and high international reserves.
The government’s commitment to modernizing and reforming the economic structure, while maintaining fiscal discipline and investing in the future, is evident. The Prime Minister has prioritized addressing debt, income, and living costs, stimulating economic opportunities, and ensuring equality. Consequently, S and P’s BBB+ rating underscores the stability of Thailand’s economy despite global challenges.
Under the leadership of Prime Minister Ms. Paethongtarn Shinawatra, the government has implemented economic stimulus policies through ‘4 main engines’: private consumption, exports, government investment, and private investment. A budget of 157 billion baht is allocated to infrastructure development, tourism promotion, agricultural and export industry upgrades, and strengthening human capital and community economies, aiming to stimulate the economy and support businesses affected by global trade uncertainties.
Mr. Jirayu emphasized that S and P’s rating is a positive indication of the Thai government’s policy effectiveness and confidence in laying a strong foundation for the country’s future amidst global changes.