Thailand's economy has been faltering due to weaker exports and investments, with the central bank saying last month that the full-year forecast for 3.6% growth could be lowered.
The announcement of the new cabinet comes weeks after Srettha, former president of luxury property developer Sansiri, won a parliamentary vote in August to become prime minister. On Friday, the king commuted the sentence to one year, citing his loyalty to the monarchy and his poor health.
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