Thailand names new Finance Minister


BANGKOK – Former Transport Minister Arkhom Termpittayapaisith (picture) has been appointed as Thailand’s new finance minister effective today.

The appointment was published in the Royal Gazette today.

His appointment came after former banker Predee Daochai resigned on Sept 1, less than a month into the job.

Arkhom, 64, was transport minister under prime minister Prayuth Chan o-cha’s military government from 2015 to 2019.

He also served at the state planning agency, National Economic and Social Development Council, for more than three decades.

Arkhom will face a tough task of reviving Thailand’s economy as it is expected to continue to shrink. Finance Ministry slashed its 2020 economic forecast to a record 8.5 per cent contraction in gross domestic product.