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BANGKOK (NNT) – The Finance Ministry has reported on Monday that the Japan Credit Rating (JCR) Agency has maintained Thailand’s credit-rating ceiling at “A-” with a “stable” outlook.

Public Debt Management Office (PDMO) Director-General Patricia Mongkhonvanit said the rating remained stable despite the serious impact of Covid-19 on the Thai economy, especially exports and tourism.

She said the rating for Thailand stayed level because the government had launched a THB1.9-trillion rescue package, boosting economic recovery since the second quarter of 2020. JCR also projects Thai GDP will recover from a 6-per-cent drop last year to grow 3 per cent this year.

JCR said it remained confident that the Thai government would be able to maintain fiscal stability and manage public debt at an appropriate level. As Thailand’s banking sector also remained stable while trade is strong with a current account surplus and high international reserves, the country still has capacity to take further measures to cope with any unexpected future situations.

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