Eurasia Review
25 August 2015
- RSIS
- Media Mentions
- Thailand’s Troubled Economy: New Cabinet, New Hope? – Analysis
Thailand’s Troubled Economy: New Cabinet, New Hope? – Analysis
General Prayut Chan-o-cha’s reshuffled cabinet includes a new economic team led by Dr. Somkid Jatusripitak, a seasoned hand in handling the economy. To revive the Kingdom’s economy, the new team must quickly undertake multi-faceted policy actions.
Three days after the devastating bomb blast at the Erawan Shrine in central Bangkok Thai Prime Minister Prayut Chan-o-cha’s reshuffled cabinet was approved by the King. The bombing, which killed 20 people and injured scores more, had struck a big blow to the country’s tourism industry, which accounts for some 10 percent of its GDP.
That day the National Economic and Social Development Board slashed its 2015 GDP growth forecast from 3-4 percent this year to 2.7-3.2 percent. The new cabinet appeared like a silver lining in the gloomy outlook.
… Kaewkamol Pitakdumrongkit is an Assistant Professor at the Centre for Multilateralism Studies, S. Rajaratnam School of International Studies (RSIS), Nanyang Technological University, Singapore.
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Last updated on 16/11/2015
