Updated
Updated · Xinhua · Jun 18
S&P Affirms Thailand at BBB+ as 2026 Growth Slows to 2%
Updated
Updated · Xinhua · Jun 18

S&P Affirms Thailand at BBB+ as 2026 Growth Slows to 2%

3 articles · Updated · Xinhua · Jun 18

Summary

  • Thailand kept its BBB+ sovereign rating with a stable outlook after S&P cited confidence in the country's economic fundamentals and policy direction.
  • S&P forecast 2026 growth at 2%, saying volatility in global energy markets has weighed on domestic activity.
  • From 2027, the agency expects a recovery, with growth averaging 2.3% over 2026-2029 as political stability supports policy continuity.
  • State enterprise investment, public-private partnerships and tourism are expected to bolster competitiveness, with government measures aimed at strengthening the sector and higher-value domestic travel.

Insights

Thailand's reforms earned a stable rating, but can the government overcome its chronic enforcement problems to deliver real change?
With plans for OECD membership, how will Thailand tackle the crushing household debt and SME struggles anchoring its economy?