Thailand’s finance minister resigns

Predee Daochai, the finance minister of Thailand, has resigned unexpectedly on Tuesday, after less than a month in the job.

The Royal Gazette said in a three-line announcement that Prime Minister Prayuth Chan-ocha had accepted the resignation of Predee Daochai, reports AP.

Thai media reported earlier without citing a source that Predee, 61, had resigned for health reasons.

No official comment was found in this regard.

Predee, who was the chairman of Thai Bankers’ Association ahead of his Cabinet appointment, had resigned his job as co-president of Thailand’s Kasikorn Bank before joining the government.

Predee’s appointment, which took effect August 6, was part of the formation of a new team in the Cabinet to handle economic affairs.

Thailand’s economy has been badly shaken by the coronavirus, which has battered exports and the important tourism industry.

The Asian Development Bank forecast that Thailand’s economy will contract by 6.5% in 2020, compared to its December 2019 projection of 3.0% growth.