Fitch Ratings has revised its outlook on Thailand’s Long-Term Foreign Currency Issuer Default Rating to “positive” from “stable” and upgraded the rating to BBB+.

The revision reflects increasing international economic confidence that lingering political risks are unlikely to derail “sound macroeconomic management”, according to the international credit rating agency, Fitch.

“This is demonstrated by the sustained strength of external and public finances over the past several years, which has resulted in greater resilience to macroeconomic and financial shocks.”

“A major political hurdle has been passed with the formation of a new civilian-led government following elections in March. Nevertheless, a degree of political uncertainty remains in the context of the stability of the new coalition government.”

The Thai baht has been one of the strongest performing emerging-market currencies against the US dollar throughout 2019, appreciating by over 4.5% as equity and debt inflows have increased, particularly during June.

Fitch expects the current account surplus to remain high relative to peers at 5.6% of GDP in 2019 and 4.9 per cent in 2020, “supported by tourism inflows and a goods surplus, despite slowing exports”.

Fitch forecasts growth to slow, as with other trade-dependent countries in the south east asian region. It expects Thailand’s GDP growth to ease to 3.3% in 2019 from 4.1% last year.

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A foreigner, known as ‘Mahmoud’, was stabbed in Soi Ta-iad (‘Soi Steroid’ or ‘Soi Muay Thai’ to locals) in Chalong, southern Phuket last night outside a Family Mart. The man was taken to Bangkok Phuket Hospital and is now reported to be in a stable condition following surgery. Doctors have told friends he will have to remain in hospital for observation for at least two days.

‘Mahmoud’ is an Egyptian tourist allegedly stabbed by a Thai man, according to sketchy reports.

Witnesses claim the stabbing was a result of an argument over the price of roti at a road-side vendor stall.

The street is a popular haunt for fitness-tourists with many muay thai and other gyms, health retreats and healthy food cafes in the area.

The government’s new Transport Minister, Saksayam Chidchob, has reiterated its intention to reign in the costs of the city’s Green Line trains, the BTS Skytrain, around Bangkok. They’re even mooting a capped flat fee of 15 baht per ride. The policy was proposed by the Democrats during the election campaign and accepted as party platform for the new coalition in deals done before the vote for the PM in Parliament in June.

But the Mass Rapid Transit Authority of Thailand governor say it can only happen if the government agrees to subsidises the remainder of the costs for the private operators of the rail routes. The governor, Pakapong Sirikantaramas, agreed it would be a bonus for commuters and bring down their public transport costs on the electric train systems around the city but needed to be budgeted as an ongoing cost for the new government.

He said they’re also looking at other alternatives to bring down the high costs of using the BTS Skytrain for commuters. He announced a committee has been set up to evaluate the ‘proper and fair’ fares for the city’s Green Line. The ‘Green Line’ services around the city have grown in popularity by more than 50% in the past decade.

In another policy proposal, legalising Grab Car (widely used but not officially legal as yet), would help relieve the city’s pressure on the train systems. The Bhumjaithai party’s secretary-general Saksayam Chidchob, now head of the transport ministry, has also foreshadowed rolling out policies like allowing students to complete some projects from home and not having to travel to school all the time to help reduce congestion.

Part of his party platform has also promised to oversee all transport projects are contracted out in a transparent and fair manner.