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InfoQuest

Thai deputy PM proposes to set up economic cabinet

July 22, 2019


Abstract : After meeting with Mr. Suphan Mongkolsuthree, chairman of the Federation of Thai Industries (FTI), Deputy Prime Minister Somkid Jatusripitak said he had already consulted Prime Minister Prayut Chan-o-cha on the proposal to set up an economic cabinet.

InfoQuest (July 19, 2019) - After meeting with Mr. Suphan Mongkolsuthree, chairman of the Federation of Thai Industries (FTI), Deputy Prime Minister Somkid Jatusripitak said he had already consulted Prime Minister Prayut Chan-o-cha on the proposal to set up an economic cabinet. The economic ministers’ meeting will be chaired by Prime Minister Prayut. It does not need to meet every week, and should only be held when there is a special agenda, according to Mr. Somkid. The economic cabinet can help establish the confidence in the government, because at present, the private sector still lacks confidence in the coalition government. The cabinet will promote economic growth towards the same direction.

Mr. Somkid also boosted the confidence of investors, saying that the current stock market in the country shows strong growth momentum. He said he met with representatives from the Stock Exchange of Thailand. During the meeting, representatives pointed that currently Thai stock market is embracing capital inflow. Notably, the bond market saw enormous investment. This showed that Thailand is still a safe investment market, which was the result of its strong macroeconomic growth.

According to Mr. Somkid, when General Prayut Chan-o-cha delivers the government's policy to parliament, Mr. Kobsak Pootrakool, spokesman of the Palang Pracharath Party, who didn't secure the post of secretary-general of the Prime Minister's Office, will be appointed as adviser in the next cabinet council.

Source: InfoQuest, by Tanit Tongnok/Rachada/ Wilawan, translated by Xinhua Silk Road

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Keyword: economic cabinet

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