Thai ex-executive Pichai named finance minister, faces growth challenge

Thai former energy executive Pichai Chunhavajira was named the country’s finance minister on Sunday, facing a tough task to revive Southeast Asia’s second-largest economy.
Pichai, 75, an adviser to Prime Minister Srettha Thavisin, takes over from Srettha as finance minister and becomes deputy prime minister, the official Royal Gazette said, announcing his appointment by the king.
Pichai was the chair of the board of Bangchak Corp since 2012. He headed the board of the Stock Exchange of Thailand for less than three months this year and was on the central bank board from 2014 to 2017.
Lagging its regional peers, the Thai economy faces high household debt and borrowing costs, as well as China’s slowdown.