Standard and Poor’s (S&P), a US-based leading financial services and ranking company, has indicated that the political stability and policies of the Pheu Thai-led government will be major factors in credit rating arrangement of the country.
S&P will give importance to economic and financial policies of the new government and political development in Thailand in the ranking. The company indicated that Thailand has been facing with political instability since 2006.
Due to frequent changes in national administrations, S&P analysed that the country’s long-term infrastructural development and education reform could not progress although both factors are crucial for mid-term economic growth and living standard improvement.
Although Thailand has strong economic foundation, S&P pointed out that political instability has prevented a long-term opportunity for economic growth and affected state financial status in mid and long terms.
S&P analyst Takahiro Okawa believed that Thailand still has a certain level of political risk since reactions of those against ex-Prime Minister Thaksin Shinawatra towards the election result, policies of the Pheu Thai Party and election result endorsement are still uncertain.
BANGKOK, 6 July 2011 (NNT) – Reporter : Santibhap Ussavasodhi
News Date : 06 July 2011
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