Thailand’s King Maha Vajiralongkorn on Friday swore in Prime Minister Paetongtarn Shinawatra and 35 cabinet ministers in Bangkok, ushering in a new government in Southeast Asia’s second largest economy after a period of political turmoil.
Paetongtarn, leader of the ruling Pheu Thai party, was elected by parliament last month to become Thailand’s youngest prime minister after her predecessor Srettha Thavisin was dismissed by a court order over an ethics violation.
The cabinet, which was formally endorsed by the king on Wednesday, comprises 17 members from Pheu Thai party, including the premier, and another 19 positions divided among coalition partners.
Dressed in official uniform, Paetongtarn and her cabinet ministers swore their allegiance in front of King Vajiralongkorn and Queen Suthida in a ceremony at Bangkok’s Dusit Palace.
“I want to wish, with gladness, that the cabinet will have the encouragement and determination to perform your duties as you have sworn for the benefit of the country and people,” the king said after the cabinet’s oath of allegiance.
Paetongtarn and the cabinet ministers bowed after the king’s remark.
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The youngest daughter of the divisive former premier Thaksin Shinawatra, Paetongtarn has not served in government previously and will face challenges on multiple fronts, including a floundering economy.
She is also the second woman and fourth member of the Shinawatra clan to hold Thailand’s top elected position, with three previous premiers removed by coups or court decisions.
Paetongtarn’s government will deliver its policy statement to parliament next Thursday and Friday, marking the formal start of her administration.
Paetongtarn’s administration faces the task of jump-starting South-east Asia’s second-largest economy amid sluggish exports, near-record household debt and high cost of living. She’s pledged to rework a controversial US$14 billion cash handout that promises 10,000 baht (S$384.24) each to almost all adult Thais.
The so-called digital wallet programme aims to turbocharge economic growth to 5 per cent, more than double the average sub-2 per cent growth rates for nearly a decade under military-backed rule. About 14.5 million people, including 1 million with disabilities, may be covered in the first phase of the program in September, according to officials.
Paetongtarn also faces the challenge of keeping an unwieldy coalition of conservative and pro-royalist parties together while reassuring investors that she can attract foreign investment into high-tech industries and help sustain a fragile economic recovery.
Thailand’s financial markets have cheered the end of the political turmoil that began with the dissolution of the country’s largest opposition party last month.
The benchmark SET Index has bounced almost 11 per cent since Paetongtarn was nominated as the new leader on Aug 15 and the baht has gained 4 per cent during the period, reaching its highest level in more than a year.
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