“Akniti” stressed the urgent need to accelerate the energy transition to reduce national risks, as Thailand ranks 67th in high energy dependence. He plans to use the Joint Economic Committee (JEC) as the primary mechanism to drive Thailand’s long-term development.
On 19 Jun 2026 at the Government House, Deputy Prime Minister and Finance Minister Akniti Nitithanprapas said that S&P Global Ratings has maintained Thailand’s credit rating at BBB+ with a stable outlook. This reflects confidence in Thailand’s economy and fiscal stability, with an expected 2% growth this year. He added that the government’s political stability supports policy continuity and facilitates economic restructuring and investment aligned with the country’s long-term strategy.
Additionally, on 18 Jun 2026, the IMD ranked Thailand’s competitiveness four places higher, from 30th to 26th among over 70 economies. This latest ranking shows both strengths and weaknesses that the government will address through the Joint Economic Committee (JEC), which will hold its first meeting on Monday, 22 Jun 2026.
Akniti pointed out the most concerning structural indicator is the high Energy Intensity, with Thailand ranked 67th, reflecting heavy reliance on imported oil and natural gas. Energy imports account for nearly 10% of GDP, making it essential to accelerate the energy transition to reduce national risks.
The JEC will serve as the long-term driving mechanism for Thailand, chaired by Prime Minister Anutin Charnvirakul, with Akniti as vice-chairman. Recently, the JEC secretariat was tasked to prepare meeting agendas aligned with the interests of rating agencies S&P, Moody’s, and IMD, focusing on Thailand’s long-term development direction.
The JEC’s work will focus on restructuring infrastructure in several areas, including energy dependence, technology, workforce, and regulatory reform. For example, the successful Thailand Fast Pass project demonstrated that regulatory reform can effectively promote investment. The official launch of Thailand Fast Pass is scheduled for Tuesday, 23 Jun 2026, to showcase Thailand’s potential concretely.
“Both Moody’s and S&P, which maintained Thailand’s credit rating, emphasize investment in economic drivers, including infrastructure, human resources, and regulatory reform. Thailand Fast Pass is a prototype proving that unlocking regulations can stimulate investment without additional budget. Sometimes, no money is needed—just removing barriers can drive progress,” Akniti said.
Akniti added that under the JEC, working groups will be established to advance four main areas: infrastructure, trade and competitiveness, legal and business regulations, and labor. He believes systematic implementation will improve Thailand’s development within 3–4 years. The approach follows the public-private partnership model from General Prem Tinsulanonda’s era, with the government supporting and the private sector leading, to adapt to today’s rapidly changing global environment.
Regarding the IMD competitiveness ranking details, which showed both improvements and declines, IMD evaluates four main areas: economic efficiency, government efficiency, business efficiency, and infrastructure. Economic efficiency saw international trade ranking drop from 4th to 9th due to Thailand’s heavy export reliance and global economic volatility. However, foreign investment ranking improved from 30th to 24th, aligning with increased direct foreign investment. Domestic economy ranking remained at 38th.
Government efficiency overall remained at 32nd, but fiscal indicators improved from 31st to 29th, especially tax system ease, rising from 8th to 7th, due to increased digital adoption such as the recently cabinet-approved e-Tax Invoice system. Business law indicators related to licensing remained stable and will be addressed by Deputy Prime Minister Pakorn Nilprapunt. Business efficiency improved with private sector potential rising from 39th to 37th, and financial sector stability at 36th. Infrastructure remains weak, notably in public health and environment at 56th, and education at 52nd.
When asked about Vietnam’s first-time participation in the IMD ranking, placing 27th close to Thailand, Akniti said Thailand should view Vietnam as a partner and trading ally rather than a competitor. He noted that meetings with Vietnam’s president showed mutual agreement on joint development: Vietnam’s strengths in semiconductors, electronic circuits, and engineering labor, and Thailand’s strengths in food processing and raw materials, suggesting cooperation for mutual growth.
Akniti also commented on the current economic situation, saying Thailand is not facing a growth crisis but rather an inflation and cost-of-living crisis felt by the public. The root cause of rising prices is high energy costs, due to Thailand’s heavy reliance on imported oil and natural gas, a structural problem needing resolution.
Regarding financial and capital markets, there is currently high capital inflow into Thailand’s stock market, partly due to capital outflows from Indonesia amid its stability and fiscal crises. Thailand’s consistent fiscal discipline and ongoing policy efforts have built investor confidence, reflected in today’s improved capital market performance.