Along with new Deputy Prime Minister and Energy Minister Supattanapong Punmeechaow, the premier assigned the finance minister position to Predee, previously a co-president of Kasikornbank, Thailand's fourth largest bank by assets. We expect no change in current financing plans and the issuance schedule in Q4 FY2020 (fiscal year ending September 2020).”. They were led by Somkid Jatusripitak, a deputy prime minister who has been in several governments during the past 19 years and had been overseeing recent economic stimulus packages. The cabinet was sworn in by the king on 16 July 2019. On 12 August 2020, the cabinet was reshuffled. Thank you for subscribing our enewsletter. The resignation paves the way for a major Cabinet reshuffle in Southeast Asia's worst-performing economy as it seeks to rebound from the global impacts of the coronavirus crisis. BANGKOK: Thai Labour Minister Chatumongol Sonakul said on Monday (Jul 20) that he has resigned from his post, making him the sixth minister to quit the government of Prime Minister Prayut Chan-o-cha since late last week. Brexit negotiations have yet to yield a breakthrough and UK GDP missed estimates with 2.1% in August. Thailand's Prime Minister Prayut Chan-o-cha and his new ministers take their oath in front of King Maha Vajiralongkorn and Queen Suthida at the Dusit Palace in Bangkok, Thailand … The first was after an officer present during a post-Cabinet meeting tested positive for Covid-19 in May. Therefore, the assembly can compel the minister to appear before it and explain his actions. The cabinet is governed by the rule of collective responsibility, in which the members of the cabinet must support all policies despite personal or private disagreement. Arkom, who is 64, became the transport minister in August 2015 when Prayuth was junta chief. Please read our privacy policy and legal disclaimer. Multiple daily strategies running 24/7 and FX expert guidance. The development was not entirely unexpected.”, “Importantly, we do not expect any major changes to Thailand’s economic policy, which will remain focused on engineering a recovery.
Thailand has over the past week lost several government ministers — including those holding crucial economic portfolios — as the coronavirus … The Government Ministries of Thailand are the government agencies that … The Cabinet Ministries of Thailand are the government agencies comprising the executive branch of the Government of Thailand.
Suchat Chomklin is the new labour minister and his new deputy is former cabinet spokeswoman Narumon Pinyosinwat. Foreign Minister Don Pramudwinai is another deputy prime minister and Anucha Nakasai is the PM's Office Minister, replacing Tewan Liptapanlop.
He joined the Thai government's economic planning agency National Economic Social Development Board in 1979 after graduating from Thammasat University the previous year.
6 Aug 2020 at 15:01. The new positions are effective after they take the oath of office before His Majesty the King. Predee Daochai, chairman of the Thai Bankers’ Association, was appointed finance minister, replacing one of Somkid's team. However, after the revolution in 1932, the Khana Ratsadon decided to dissolve this council. The appointment was signed by the prime minister on Oct. 1, according to the Royal Gazette, the government's official journal, released on Monday.
The cabinet of Thailand or, formally, the Council of Ministers of Thailand (Thai: คณะรัฐมนตรี; RTGS: Khana Ratthamontri) is a body composed of thirty-five of the most senior members of the government of the Kingdom of Thailand.
Predee Daochai is the new finance minister, while Supattanapong Punmeechaow doubles up as energy minister and deputy prime minister, in the cabinet reshuffle published in the Royal Gazette on Thursday. He is a key political organizer in northern Thailand for the Palang Pracharath party. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. The 2007 Constitution of Thailand calls the cabinet the "Council of Ministers". 24/7 coverage of breaking news and live events. The House of Representatives and the Senate can forcefully remove a sitting minister by a vote of no confidence. FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. The privy council from then on became a royal advisory council. Cookie Policy No date is given. Arkom will have to ensure that Thailand stays below the 60% debt-to-gross-domestic-product ratio ceiling so that it has room to maneuver in case of future needs. It is likely to be short-lived as economic policies are unlikely to change and political uncertainty is not new to Thailand.”, “ We also expect safe haven demand for government bonds from onshore investors to pick up temporarily. The least wealthy cabinet member is Education Minister Narong Pipatanasai with 6.95 million baht (US$211,696) in assets and 2.92 million baht (US$88,000) in debt. EUR/USD tops 1.18 amid hopes for US fiscal stimulus, Canada: Unemployment Rate declines to 9% in September vs. 9.7% expected, WTI slumps below $40.50 as Norway oil strike reportedly ends. USD/THB is up 0.40% on the day to 31.65 after four cabinet Ministers submitted their resignations. As the primary government institution in the executive branch, the cabinet is ultimately responsible for the administration and management of various government agencies and departments. Predee last month resigned his job as co-president of Thailand’s Kasikorn Bank ahead of joining the government. To boost COVID-hit economy, prime minister picks former junta transport minister. The Public Dept Management Office has told the finance ministry that public debt as a share of GDP will not rise beyond 57% over the next five years as long as the government keeps budget deficit at an average of 2.8% to 2.9% of GDP. READ: Fifth Cabinet member to resign from Thai PM Prayut's government. There are only 20 cabinet ministries, which means that 15 ministers are without portfolio. USD/THB is up 0.40% on the day to 31.65 after four cabinet Ministers submitted their resignations. He subsequently received a master's degree in development economics from Williams College in the U.S. After serving a few decades, he became secretary-general of the agency in 2010. On 14 July 1925 King Prajadhipok formed the Supreme Council of State of Siam (Thai: อภิรัฐมนตรีสภา; RTGS: Aphiratthamontrisapha) made up of 5 senior princes (all of them his brothers and all of them ministers of state) to help govern the country. Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century. Turn on desktop notifications for breaking stories about interest? Copyright© Mediacorp 2020. The names of seven people appointed to eight Cabinet positions were published Thursday in the Royal Gazette, making them official. It also does not guarantee that this information is of a timely nature. Thai royalists gather to defend monarchy amid pro-democracy protests The resignation of 61-year-old Predee, a former co-president of Kasikornbank, came into effect on Wednesday, according to …
Chatumongol confirmed to Reuters that he had resigned, but did not give a reason or comment further. On 10 July 2019, King Maha Vajiralongkorn issued a royal command to appoint a 36-member cabinet with Gen Prayut Chan-o-cha as prime minister and defence minister. Members of the cabinet are nominated by the prime minister and formally appointed by the King of Thailand. Four appointments fill portfolios that had been held by a group of ministers who resigned last month. For the first time the kings of Siam exercised his powers through a council. Foreign Minister Don Pramudwinai is another deputy prime minister and Anucha Nakasai is the PM's Office Minister, replacing Tewan Liptapanlop. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners.
Before taking office, a minister must make a solemn declaration before the king in the following words: "I, (name of the declarer), do solemnly declare that I will be loyal to the King and will faithfully perform my duties in the interests of the country and of the people. The use of this website constitutes acceptance of our user agreement. Mr Supattanapong, a former director of PTT Global Chemical Plc, is the new deputy prime minister.
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Stay ahead with our exclusives on Asia; the most dynamic market in the world. The high degree of leverage can work against you as well as for you. Information on these pages contains forward-looking statements that involve risks and uncertainties. Note: All information on this page is subject to change. The cabinet is also allowed to call a national referendum. Mediacorp Pte Ltd. All rights reserved. He left the job when Prayuth replaced the junta cabinet with the elected civilian government after the general elections in March 2019.
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