S&P Global Ratings reaffirmed Thailand’s BBB+ credit rating, forecasting GDP growth from 1.9% in 2023 to 3.1% by 2025, driven by economic stimulus and tourism recovery.
Thailand’s Credit Rating Reaffirmed
S&P Global Ratings has reaffirmed Thailand’s sovereign credit rating at BBB+ with a stable outlook. The agency predicts GDP growth to rise from 1.9% in 2023 to 3.1% by 2025, primarily driven by economic stimulus and a robust recovery in the tourism sector. Overall, Thailand’s real GDP growth is expected to average 3.0% from 2024 to 2027.
Strategic Investments and Growth Drivers
Pachara Anantasilp, Director-General of the Public Debt Management Office, stressed the importance of strategic investments in projects like the Eastern Economic Corridor and major infrastructure developments. Public-private partnerships and state enterprise investments are essential to advancing these initiatives and supporting sustained economic growth.
Debt Projections and Economic Outlook
The net government debt-to-GDP ratio is expected to increase by 3.3% in 2025, influenced by stimulus measures such as cash handouts. Additionally, a recovery in the export sector and tourism could result in a healthy average current account surplus of 2.3% from 2024 to 2027, positioning Thailand for potential credit rating improvements in the future.
Source : S&P Confirms Thailand’s BBB+ Credit Rating, Stable Outlook Maintained
