International credit rating firms are likely to lower Thailand’s BBB+ credit rating if anti-government protests are further prolonged or turn increasingly violent, permanent secretary for finance Rangsan Sriworasart warned on Tuesday.
If the country's credit rating is cut then lending costs for both the government and private sector would rise, he said. Foreign investment in Thailand would also fall off.
Mr Rangsan admitted that the occupation of the Ministry of Finance is preventing officials from fully responding to the needs of other state agencies and distributing fiscal budget funds.
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