S&P keeps Thailand's BBB+ ratingThe government has welcomed the decision by Standard & Poor (S&P) Global Ratings to maintain Thailand's sovereign credit rating at BBB+ and rate the kingdom's economy as having a stable outlook. Published on Monday, the positive credit rating and economic outlook were awarded to Thailand for its strong finance and foreign currency parameters, despite the global economic doldrums caused by Covid-19. S&P expects the economy will grow 1.1% this year and a further 3.6% annually until 2024, said government spokesman Thanakorn Wangboonkongchana, citing the report. Thailand retains strong public finance despite a budget deficit caused by the government's decision to incur more public debt in order to finance its pandemic relief and economic revival policies, he said. Meanwhile, confidence among foreign investors is returning, given the volume of investment privileges requested, he said.
