Moody’s Maintains Thailand’s Credit Rating at Baa1

 

 

by Natthaphon Sangpolsit

    

BANGKOK (NNT) - Global credit rating company Moody’s has announced its latest credit rating for Thailand, maintaining it at Baa1 - the same score as the previous year, owing to the diversity of the kingdom’s economy as well as its robust financial sector.

 

Patricia Mongkhonvanit, director-general of the Public Debt Management Office (PDMO), said the rating reflects the size and diversity of the Thai economy and the effectiveness of its flexible macroeconomic policies.

 

She noted that another factor contributing to the score has been the government’s investment promotion measures under the Eastern Economic Corridor campaign, which is expected to further boost the economy over the next 2-3 years.

 

Join our daily ASEAN NOW Thailand Newsletter - Click to subscribe

 

The director-general said Moody’s Baa1 rating is comparable to S&P’s BBB+ rating, adding that Thailand’s economy is expected to grow by 3.4% this year and 4.8% next year.

 

Compared to other countries at the same credit rating level, Thailand’s public financial sector remains robust with a slight increase in government debt-to-GDP ratio to 52-54%.

 

-- © Copyright NNT 2022-04-11

 

- Aetna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

- Follow ASEAN NOW on LINE for breaking COVID-19 updates

 

22 minutes ago, webfact said:

Compared to other countries at the same credit rating level, Thailand’s public financial sector remains robust with a slight increase in government debt-to-GDP ratio to 52-54%.

Laughable 

Yet all last week the UK pound has been falling against the mighty baht!

4 hours ago, webfact said:

owing to the diversity of the kingdom’s economy as well as its robust financial sector.

????

But what are Fitch and S&P going to rate the Country

" Robust Financial Sector "

Not so sure about that statement.

Last week I was given some Info on a Thai Mortgage by a Couple who had just bought a House.

House value 1,700,000 Baht

99 Baht down payment

But I think these people borrowed more ( maybe as much as 2 Million ) - they did not say.

Monthly repayment = 9,700 Baht / Month for the next 40 Years ( yes - 40 Years )

Total to repay = 4,656,000

They are both already in the mid 30,s, so are unlikely to repay the Loan which terminates when they are around 75 Years of Age, unless of course they make advanced payments.

Pure Crazy

 

 

Edited April 11, 20224 yr by Cake Monster

7 hours ago, webfact said:

its robust financial sector.

They must mean the Baht .......????

regards Worgeordie

Construction sites have been cleared along Pattaya bypass/railway for many months now (not related to flooding which still occurs despite a decade of pipework). No sign of any real start so 2-3 yrs is a joke.