Jindarat Viriyathavikul, Director General of the Public Debt Management Office, revealed that S&P Global Ratings’ (S&P) recent analysis has maintained Thailand’s Sovereign Credit Rating at BBB+ along with a “Stable” outlook.
Key details include the forecast for real GDP growth, which is expected at 2.0% in 2026, reflecting the impacts from global energy market volatility that is pressuring domestic economic activities. However, Thailand’s economy is projected to recover from 2027 onwards, with average growth anticipated at 2.3% for 2026 – 2029.
Political stability under the new government is expected to support continuity in policy, reinforcing efforts to restructure the economy and advance investment projects in line with the country’s long-term strategic plan. This includes priority initiatives such as the Eastern Economic Corridor (EEC) and major transportation infrastructure projects. State enterprise investments and public-private partnerships (PPP) are set to play a vital role in enhancing the nation’s future competitiveness.
Asadej Kongsiri, President of the Stock Exchange of Thailand (SET), stated that S&P’s affirmation of Thailand’s credit rating is a significant positive signal, highlighting Thailand’s strong financial stability and substantial foreign reserves. These factors help buffer against external volatility, while government stability remains a key driver supporting policy continuity, economic restructuring, and long-term strategic investment plans.
The credit rating confirmation will also enhance investor confidence and attract continuous capital inflows into the Thai stock market. Listed firms can continue to sustain competitive funding costs abroad, which is a positive for business growth and the market over the long term.
Pornanong Budsaratragoon, Secretary-General of Thailand’s Securities and Exchange Commission (SEC), stated that S&P’s decision reflects Thailand’s macroeconomic stability, debt management, and fiscal standing relative to neighboring countries in the region. It also benefits the Thai capital market, especially regarding fund flows, as it alleviates international institutional investors’ concerns about macroeconomic risks. This ensures Thai assets remain attractive and provides a positive sentiment for the investment sector.
