FRIDAY, April 19, 2024
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Thailand's outlooks stable: RAM

Thailand's outlooks stable: RAM

Malaysia's RAM Ratings has assigned Thailand a "stable" outlook on both the global and Asean scales, noting that the ability of the military-led regime's new Cabinet to shore up the economy remains to be seen.

RAM rated Thailand “gBBB1(pi)” on the global scale and “seaAA1(pi)” on the Asean scale. 
Thailand benefits from low oil prices, which improve its trade balance, the rating agency said. Coupled with declining capital imports, its current account hit a surplus of 6 per cent in the second quarter. As of June, the level of reserves was sufficient to fund 10 months of imports and 2.9 times the country’s short-term external debt.
Despite the benefit of a low base in 2014, Thailand’s economy continues to be weak, with growth slowing to 2.8 per cent in the second quarter from 3 per cent in the first, and a surprise 25-basis-point policy-rate cut in April failing to boost the economy. 
 
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