BANGKOK, 17 MARCH 2013 Deputy Prime Minister and Finance Minister Kittiratt Na-Ranong is pleased with the recent upgrade of Thailand’s credit rating by Fitch Ratings.
Mr. Kittiratt said the upgrade, from BBB to BBB+, was the result of the country’s overall stability, based on local political and economic situation, inflation, its low public debt level as well as the government’s long-term infrastructure investment plan.
The Finance Minister affirmed that the government and all parties concerned are determined to work hard to further improve the country’s economic stability.
Meanwhile, Deputy Secretary-General of National Economic and Social Development (NESDB) Arkhom Termpittayapaisith stated that the credit rating upgrade will help boost global confidence in the Thai economy.
He added that the country’s economic growth has continually improved, especially in Q4/12.
In addition, the Federation of Thai Industries (FTI) Chairman Payungsak Chartsutipol shared his thoughts that the Fitch’s rating upgrade shows investor confidence has improved.
He believes that the government’s 2-trillion-baht investment project will help stimulate and drive this year’ economy to expand by as much as 6% this year.