BANGKOK, Thailand – S&P Global Ratings has reaffirmed Thailand’s BBB+ sovereign credit rating with a “Stable” outlook, indicating confidence in the country’s financial position and recent policy developments. The announcement, according to Government Spokesperson Jirayu Huangsub, follows seven months of economic reform efforts by the government. Analysts underscored Thailand’s strong foreign reserves, solid external balance, and structured policy framework as key drivers. S&P forecasts GDP growth of 2.3 percent in 2025 and 2.6 percent in 2026.
Thailand’s actual GDP is projected to grow at an average annual rate of 2.8 percent between 2025 and 2028, despite external risks such as trade disputes and potential U.S. tariff measures. Per capita GDP is expected to rise to 8,100 US dollars in 2025, up from 7,500 dollars, supported partly by a strengthening baht.
S&P cited the government’s investment-led strategy, including large-scale infrastructure upgrades, expansion of the Eastern Economic Corridor, and public-private partnerships, as key to enhancing long-term competitiveness. Thailand’s high level of foreign exchange reserves also contributes to its resilience against global volatility.
Officials say current policies are designed to lower household debt, address living costs, and build long-term growth. A stimulus package worth 157 billion baht is being rolled out to support infrastructure, tourism, export-oriented agriculture, and local economies. (NNT)
