Thailand’s Sovereign Credit Rating Remains Stable

Prime Minister and Defense Minister was pleased with the news report from the Ministry of Finance that the Japan Credit Rating (JCR) Agency has maintained Thailand’s Sovereign Credit Rating at “A-” with a “stable” outlook.

Deputy Government Spokesperson Traisuree Taisaranakul quoted the Prime Minister as saying that the report was encouraging and reflects a foreign perspective on Thailand’s strong economic foundation, as well as the Government’s economic policies.

Thailand has been faced with serious impacts of the COVID-19 situation, which has affected many economic sectors, especially exports and tourism, on which Thailand heavily depends. With its strong financial and fiscal conditions, Thailand has been able to move forward with its economic recovery.

According to JCR, Thailand’s banking sector remains stable, while trade is strong, with a current account surplus and high international reserves. As a result, Thailand still has the capacity to take further measures to cope with any unexpected future situations.

Ms. Traisuree said that Thailand has been affected by the new wave of COVID-19 transmission since early April 2021. In dealing with the situation, the Government has continued to impose more stringent measures to contain the spread of the disease and take care of COVID-19 patients.

In this regard, she said, the Prime Minister revealed that the Government has also prepared a budget for carrying out the next phase of remedy and assistance measures to ease the hardships of affected people. These measures will be considered carefully for greater efficiency and the maximum benefit of the people.

 

Source: The Government Public Relations Department

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