-- Thai Prime Minister Paetongtarn Shinawatra unveiled her new cabinet lineup, retaining Pichai Chunhavajira as finance minister in a signal of policy continuity as she faces the task of bolstering Southeast Asia’s second-largest economy.Hong Kong’s Arts Hub Turns to Selling Land to Stay Afloat
Paetongtarn, the third member of the influential Shinawatra clan to become prime minister, took over from Srettha who was ousted by the nation’s Constitutional Court for an ethical breach last month. She has to lead a $500 billion economy that has posted average sub-2% growth rates for nearly a decade under military-backed rule, well below its regional peers.
“We don’t expect any delay in the next fiscal budget for now,” Nattaporn said. “We think they will continue main policies as announced by the previous government as they are still the same team.
Still, investors will be closely watching how Paetongtarn’s administration deals with the central bank, which previously ignored calls from Srettha to cut rates. The Bank of Thailand has also pushed back at Pichai’s suggestions to raise the inflation target range of 1% to 3%.Now with a scion of the Shinawatra clan in power, political analysts expect Paetongtarn’s father, former premier Thaksin Shinawatra, to wield significant influence on his daughter’s administration.
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