The Thai government has revealed that Moody’s Investors Service has maintained Thailand’s sovereign credit rating at Baa1, equivalent to BBB+, citing a “stable” economic outlook due to strong public finances.
Deputy government spokesperson Ratchada Thanadirek said Moody’s noted that Thailand has low short-term debt of only 8%, with an extremely low baht-to-foreign currency debt of less than 2%, which contributed to the low inflation rate.
She said the agency estimates that, after the COVID-19 situation is resolved, foreign investment in Thailand will continue to grow, especially in the Eastern Economic Corridor, which will help boost domestic employment as well as consumption demand and ultimately increase the country’s competitiveness in the global market.
Ms. Rachada added that the Board of Investment of Thailand [BOI] has granted privileges in the first half of 2021 to over 800 projects, with total investment value of Bt386 billion, up 158% on the same period last year. The top three countries granted investment privileges are Japan, the United States and China. (NNT)
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