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., takes over from Srettha as finance minister and becomes deputy prime minister, the official Royal Gazette said, announcing his appointment by the king.
Lagging its regional peers, the Thai economy faces high household debt and borrowing costs, as well as China's slowdown. The government, rejecting that criticism, is forging ahead with the scheme, although the central bank recommends it be targeted only towards vulnerable groups. 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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Source: The Straits Times - 🏆 8. / 63 Read more »