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Thai PM Srettha to take finance portfolio amid tepid economic growth

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Thailand's new Prime Minister Srettha Thavisin was named finance minister on Saturday in a cabinet that was endorsed by the king, as the real estate tycoon seeks to boost South-East Asia's second-largest economy and implement key campaign promises.

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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