Banking
Thailand’s sovereign rating to be upgraded if political tension eases
Thailand’s sovereign position is likely to be upgraded to A- or A+ from the existing BBB+ level if the current political turmoil ends, according to the Public Debt Management Office director-general Chakkrit Parapuntakul.
He said the world leading rating agency Moody’s Investors Service would send its officials to assess the overall Thai economy.The office is ready to give the officials an explanation and additional information about improving economic conditions of Thailand upon the increasing exports and the global economic recovery.“All key economic factors in Thailand have improved markedly, but the ongoing political standoff is the only factor affecting the economic growth,” he said.
via Thailand’s sovereign rating set to be upgraded if political tension eases.
Economics
Thailand’s economic growth expected to return to 2019 levels in mid-2023
Although the economy would recover next year, the recovery is still substantially below potential level resulting in a large output loss and could affect Thailand’s potential economic growth in the future with the economy expected to return to 2019 levels in mid-2023.
The Siam Commercial Bank (SCB), one of Thailand’s largest commercial banks, said in its latest economic outlook report that the country’s economy may wait until the second semester of 2023 to return to 2019 growth levels.
(more…)Banking
S&P maintains Thailand’s credit rating at BBB+ with stable outlook
Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.
Standard and Poor’s (S&P) maintained Thailand’s credit rating at BBB+ . The global rating firm expects the country’s gross domestic product (GDP) to grow at 1.1% this year, with a more optimistic growth at 3.6% per year from 2022 to 2024.
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