Sureta Thabisin of the Thai Contribution Party gestures at the party headquarters before the royal endorsement ceremony after Thailand’s parliament voted in favor of her candidacy for prime minister on August 23, 2023 in Bangkok, Thailand. Reuters/Athit Perawongmetha/File Photo Obtaining license rights
BANGKOK, Sept 2 (Reuters) – Thailand’s new Prime Minister Suretta Thavisin was appointed finance minister on Saturday in a cabinet backed by the king, with the real estate tycoon set to drive growth in Southeast Asia’s second-largest economy and lead major He aims to fulfill his election promise.
Thailand’s economy has been struggling due to weak exports and investment, and the central bank said last month that its full-year growth forecast of 3.6% may be revised downward.
Recovering Thailand’s economy will be one of the biggest challenges for Mr. Suretta, a political newcomer who took over as prime minister last month after prolonged uncertainty after elections in May.
In the new cabinet, revealed in the Royal Gazette and backed by King Maha Vajiralongkorn, Mr. Suretta’s Thailand Contribution Party, backed by the billionaire Shinawatra family, will oversee the portfolios of defence, transport, commerce, health and foreign affairs. I will do it.
The announcement of the new cabinet comes weeks after Suretta, the former head of luxury real estate developer Sansiri (SIRI.BK), was sworn in as prime minister in a parliamentary vote in August.
On the day of the vote, pro-Thai leader Thaksin Shinawatra made a dramatic return to Thailand after spending 15 years in self-imposed exile overseas to avoid an eight-year prison sentence. Thaksin was taken to the police hospital on his first night back due to chest pain and high blood pressure. He then submitted an application to the royal family for a pardon.
On Friday, the king commuted his sentence to one year, citing loyalty to the monarchy and poor health.
Mr. Suretta’s rapid rise to power, Mr. Thaksin’s smooth return to power, and the alliance between the Pro-Thai Party and his former rivals have fueled speculation about a deal between Thaksin and his opponents, the country’s powerful conservative and royalist factions. It has increased. Mr. Thaksin and the Thailand Contribution Party insist otherwise.
The Thai Contribution Party will control key economic ministries that will be key to implementing policies such as a 10,000 baht ($285.63) handout in the form of a digital currency.
The largest coalition partner, Bhumjaithai, known for advocating the use of medical marijuana, will oversee the ministries of education, home affairs and labor.
Conservatives and pro-military parties will control the Department of Energy and the Department of the Environment.
Mr Sletta and his 33 other ministers are scheduled to be sworn in in an audience with the king and deliver a policy statement in parliament before starting work this month.
Prime Minister Sletta said his first cabinet meeting would address cost of living issues by lowering electricity and gas prices and easing visa entry rules for Chinese immigrants to boost tourism.
(1 dollar = 35.0100 baht)
(This article has been reedited to correct spelling of “pain” in paragraph 6)
Report by Chayut Setboonsarng and Panarat Thepgumpanat.Editing: Miral Fahmy and Jerry Doyle
Our criteria: Thomson Reuters Trust Principles.