Thailand’s credit rated BBB+ with a stable outlook - Fitch Ratings

21 Sept 07:08 Key points summarised by AI

Fitch Ratings affirms Thailand's Sovereign Credit Rating at BBB+ with a stable outlook, reflecting confidence in its economic stability.
Thailand's economy is projected to grow by 2.6% in 2024 and accelerate to 3.1% in 2025, driven by robust tourism recovery, increased government spending, and private consumption.
While government deficit and debt are expected to rise, Fitch notes these risks are mitigated by Thailand's strong access to deep domestic capital markets and effective fiscal financing capacity.
The nation's external finances remain robust, with a widening current account surplus forecast (2.9% of GDP in FY2025) and substantial foreign reserve buffers exceeding those of many peers.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.