Fitch Ratings has affirmed Thailand’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB+’ with a Stable Outlook.
Key Takeaways
- Fitch Ratings has affirmed Thailand’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB+’ with a Stable Outlook, citing robust external finances and sound macroeconomic policy framework as strengths, but also highlighting weaker structural features and fiscal risks.
- Fitch forecasts Thailand’s GDP growth will accelerate to 3.8% in 2024 after a weaker expansion than expected of 2.8% in 2023, supported by a steady tourism recovery, strengthening merchandise exports, higher domestic demand from public spending, and supportive policy settings.
- The formation of a coalition government in Thailand reduces near-term political uncertainty, but balancing diverse forces could affect policymaking effectiveness and fiscal prudence, and…
