Thai finance minister quits

Predee Daochai

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 today, according to a Royal Gazette announcement Sept 1.

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The banking veteran, 61, was named as the new finance minister on Aug 6. He joined Prime Minister Prayuth Chan o-cha’s cabinet on Aug 12.

It was not clear why Predee resigned but the local media said he wanted to quit for health reasons.

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 per cent contraction in gross domestic product (GDP) from 2.8 per cent in January, due to the COVID-19 pandemic impact.

— BERNAMA