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Economics

S&P upgrades Thailand’s sovereign rating outlook top positive

The upgrade by S&P follows previous increases by Fitch Ratings, Moody’s Investors Service and Rating and Investment Information Inc.

Boris Sullivan

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S&P said the positive outlook was a signal that the sovereign rating could be raised over the next 24 months “if there are clearer signs the key political players are committed to the current political framework and that abrupt and unexpected political changes become unlikely”.

S&P Global Ratings has upgraded its outlook on Thailand’s sovereign credit rating to positive from stable, but it cautions that a return to political stability will not be enough to spur an economy beset by external challenges.

“The positive outlook reflects our assessment that political uncertainty in Thailand has begun to ease with the return of an elected government,” S&P said in a release.

“With progress in implementing national reforms and strategic plans, we believe policy continuity and political stability will improve.”

S&P Global Ratings

The ratings agency has affirmed its BBB+ (unchanged) long-term and A-2 short-term foreign currency sovereign credit ratings, as well as its A- long-term and A-2 short-term local currency ratings.

Finance Minister Uttama Savanayana said the upgrade by S&P follows previous increases by Fitch Ratings, Moody’s Investors Service and Rating and Investment Information Inc.

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Economics

Thai Exports fell for fifth straight month, down 2.65% in 2019

Thia Exports fell for the fifth straight month in December, resulting in a full-year contraction of 2.65% in 2019

Boris Sullivan

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The Commerce Ministry reported on Wednesday that customs-cleared exports fetched $19.15 billion in December, down by 1.28% 

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Economics

Productivity is Key to Thailand’s Growth and Prosperity, says World Bank

The Thai economy is projected to pick up moderately to 2.7 percent in 2020 as private consumption recovers and investment picks up due to the implementation of large public infrastructure projects.

World Bank

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Thailand’s growth slowed to an estimated 2.5 percent in 2019 from 4.1 percent in 2018, due to external and domestic factors.

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Economics

Thailand plans One trillion baht state budget to stimulate economy

Deputy Prime Minister, Dr. Somkid Jatusripitak, said that about 1 trillion baht of the government’s budget will be spent to stimulate the Thai economy.

Boris Sullivan

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Thai premier holds meeting on 2020 Budget

BANGKOK (NNT) – The ongoing trade war between the United States and China and a delay in state spending have added uncertainty to the country’s economic outlook.

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