Fitch Ratings has revised its outlook on Thailand to stable from negative, reflecting increased confidence that the country's government debt-to-GDP ratio will broadly stabilize over the medium term, according to a Friday statement.
The agency affirmed Thailand's sovereign credit rating at 'BBB+'. Fitch previously revised the country's outlook to negative in September 2025 amid political uncertainties.
Fitch noted that the Thai economy is performing better than expected amid the ongoing global energy crisis. Deflationary pressures have receded, and policy predictability has improved following the general elections held in February, Fitch said.
The agency expects general government debt to stabilize by fiscal year 2028, starting Oct. 1, 2027, at just below 63%, up from 59.3% in fiscal year 2025.