Thailand's Outlook Stable Across All Major Rating Agencies

BANGKOK, Thailand – Thailand’s economic stability just received a major vote of confidence. Fitch Ratings has upgraded its outlook on Thailand from “Negative” to “Stable,” affirming the country’s credit rating at BBB+, effective 18 September 2026, reflecting improved political stability, a healthier medium-term debt outlook, and policy continuity. With this move, Thailand now holds a “Stable” outlook from all three major global rating agencies: Fitch, Moody’s (Baa1, Stable since April 2026), and S&P Global Ratings (BBB+, Stable). What’s driving the upgrade Fitch cited stronger political stability under the current coalition government as a key factor, noting it allows for more consistent, medium-term policymaking — including continued fiscal discipline. Growth on solid ground Fitch projects Thailand’s economy will grow 2.3% in 2026, supported by AI-related investment and strong domestic consumption. Public debt is now expected to stabilize below 63% of GDP by 2028, better than earlier estimates near 65%. Thailand’s external position also remains strong, with the current account forecast to return to a 1.5% GDP surplus in 2027, backed by low-cost, baht-denominated government debt that limits exposure to currency and global market volatility. From confidence to opportunity Thailand is building on this momentum to attract investment in future industries — AI, data centers, advanced technology, and clean energy — while strengthening local businesses, workforce skills, and quality job creation. The goal: turning global confidence into real investment, real jobs, and rising incomes for the Thai people. (PRD)