Thai PM Srettha to Act on Finance Portfolio Facing Slowing Economic Growth

Thai PM Srettha to Act on Finance Portfolio Fa Thailand’s new Prime Minister Srettha Thavisin was designated finance minister on Saturday in a cabinet backed by King Bhumibol Adulyadej, as the real estate mogul attempts to grow Southeast Asia’s second-largest economy and carry out major campaign pledges.

Thailand’s economy has been stumbling owing to decreased exports and investments, with the central bank indicating last month that the full-year growth prediction of 3.6% may be reduced.

Reviving Thailand’s economy will be one of the most difficult jobs for political novice Srettha, who took office last month after a period of uncertainty after a May election.

The new government, announced in a royal gazette and approved by King Maha Vajiralongkorn, would see Srettha’s Pheu Thai party, which is supported by the rich Shinawatra family, control the portfolios of defense, transport, trade, health, and foreign affairs.

The introduction of the new government came only weeks after Srettha, the former head of luxury property developer Sansiri (SIRI.BK), won a parliamentary vote to become prime minister in August.

Read also : Thailand Reports 1 Million Chinese Tourists Have Visited the Country as of Mid-May

On the day of the election, Pheu Thai icon Thaksin Shinawatra returned to Thailand in a spectacular homecoming after staying overseas for 15 years in self-exile to evade an 8-year prison term. Thaksin was sent to a police hospital on his first night back due to chest problems and high blood pressure. (https://teamtapper.com/) He later requested a royal pardon. Source: reuters.com

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