Thai finance minister quits, less than a month into the job

BANGKOK: Thailand’s Finance Minister Predee Daochai submitted his resignation less than a month after he took office.

The resignation of the former co-president of Kasikornbank will be effective from tomorrow, according to a Royal Gazette announcement today. The banking veteran, 61, was named as the new finance minister on Aug 6. He joined Prime Minister Prayuth Chan-Ocha’s cabinet on Aug 12.Predee’s resignation adds uncertainty in reviving Thailand’s faltering economy amid the Covid-19 pandemic.

The Finance Ministry has downgraded its 2020 economic forecast to 8.5% contraction in the country’s gross domestic product from 2.8% in January, due to the Covid-19 pandemic impact.

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