New Thai administration will prioritise economy

Significance

The new prime minister, Srettha Thavisin of the Pheu Thai Party, has taken the additional role of finance minister, promising to implement key campaign promises regarding the economy. The governing coalition represents a major realignment in Thailand’s political landscape, as Pheu Thai is joined in it by erstwhile rivals linked to the politically powerful military.

Impacts

• Srettha’s administration will likely push for lower trade barriers and more free trade agreements in a bid to boost market access.
• Pheu Thai will coordinate closely with incoming military leaders on military reforms, weapons procurement and other security issues.
• The opposition Move Forward Party will look to strengthen checks and balances, using its numerical strength in parliament.