Global credit rating company Moody’s has announced its latest credit rating for Thailand, maintaining it at Baa1 – the same score as the previous year, owing to the diversity of the kingdom’s economy as well as its robust financial sector.
Patricia Mongkhonvanit, director-general of the Public Debt Management Office (PDMO), said the rating reflects the size and diversity of the Thai economy and the effectiveness of its flexible macroeconomic policies.
She noted that another factor contributing to the score has been the government’s investment promotion measures under the Eastern Economic Corridor campaign, which is expected to further boost the economy over the next 2-3 years.
The director-general said Moody’s Baa1 rating is comparable to S&P’s BBB+ rating, adding that Thailand’s economy is expected to grow by 3.4% this year and 4.8% next year.
Compared to other countries at the same credit rating level, Thailand’s public financial sector remains robust with a slight increase in government debt-to-GDP ratio to 52-54%.(NNT)
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