BANGKOK - Thai former energy executive Pichai Chunhavajira was named the country's finance minister on Sunday, facing a tough task to revive Southeast Asia's second-largest economy.
Lagging its regional peers, the Thai economy faces high household debt and borrowing costs, as well as China's slowdown. The controversial stimulus has been delayed to late 2024 due to a lack of funding and concerns about the impact on public debt, with economists and some former central bank governors criticising it as fiscally irresponsible.
He has been at loggerheads with the Bank of Thailand over the direction of monetary policy, repeatedly asking it to cut rates to help an economy he describes as at a "critical" stage.
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