Fitch moved Thailand's outlook to Stable, but officials say fiscal room is only about 3-4% of GDP and public debt is near 70%. The NESDC secretary-general says spending must be tightly controlled for 2-3 more years. The VAT rate is 7% and officials are only discussing a possible increase (one point is estimated at about 10,000 million baht), with no decision or date given. For a Thai SME, this is a watch item: budget for possible tax changes and tighter government spending, but no action is needed yet.