Economic leadership void seen worsening uncertaintyFinance Minister Uttama Savanayana gestures as he attends a press conference at Government House in Bangkok, July 16, 2020. Finance Minister Uttama Savanayana resigned July 16 ahead of a Cabinet reshuffle, with Prime Minister Prayut Chan-o-cha saying he’ll announce a likely replacement by next month. The finance minister and central bank governor helped shape a 1.9 trillion-baht stimulus package that’s meant to curb the economic fallout from the pandemic, and investors want to see those funds put to work. The central bank expects gross domestic product to shrink 8.1% this year, the biggest decline on record and more dire than official forecasts for any other Asian nation. The new finance minister will pick the next central bank governor from a shortlist of candidates.

Source: Bangkok Post July 20, 2020 03:33 UTC