Fitch ratings reveal Thailand’s economic recovery to boost corporate earnings in 2023

Recovery of the domestic economy and alleviation of inflationary pressures are set to bolster the performance of corporations in Thailand this year, suggest analysts from Fitch Ratings during the 2023 Thailand Corporate Credit Outlook & Asean ESG conference, held recently in Bangkok.

Corporates at Fitch Ratings (Thailand)’s Lertchai Kochareonrattanakul, a senior director, indicated in his talk that a boost in local consumer demand coupled with a resurgence in activities related to tourism should foster continuous earnings growth for Fitch-rated firms in food and beverage, telecom, aviation, and hospitality verticals.

While earnings are pegged to enhance for the power and utility sectors, which previously felt the burn of high fuel expenses in 2022, expectations predict an ease in cost pressures. The recovery journey for petrochemical businesses may face…