# Markets respond positively to Thailand’s New Government

- Link: https://www.thailand-business-news.com/politics/160834-markets-respond-positively-to-thailands-new-government
- Published: 2024-09-07T13:35:21+07:00
- Author: Bahar Karaman

**Thailand’s new Prime Minister, Paetongtarn Shinawatra, and her 35-member cabinet
have been sworn in, and they are now facing economic challenges and the task of 
managing a political coalition after a period of turmoil. The markets have responded
positively to this development.**

Thailand’s new Prime Minister, Paetongtarn Shinawatra, took the oath of allegiance
alongside 35 cabinet members in a ceremony led by King Maha Vajiralongkorn at the
royal palace on September 6. This event marked a fresh start for the administration
following a period of political turmoil that resulted in the dismissal of former
premier Srettha Thavisin.

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 * **👑 Royal Endorsement** Thailand’s King Maha Vajiralongkorn has sworn in Prime
   Minister Paetongtarn Shinawatra and her cabinet ministers.
 * **🎉 Young Leadership** At 38, Paetongtarn Shinawatra is the youngest Prime Minister
   in Thailand’s history, highlighting a generational shift in the country’s political
   landscape.
 * **🔄 Government Restructuring** The new government will need to prove its efficacy
   and stability, particularly after notable changes in cabinet positions, including
   the removal of key ex-military figures.

Paetongtarn Shinawatra, daughter of former leader Thaksin Shinawatra, is addressing
economic challenges such as sluggish exports, high household debt, and increasing
living costs. Her administration plans to introduce a digital wallet program that
will allocate 10,000 baht to adults, with the goal of spurring economic growth by
an ambitious 5 percent.

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As the leader of a coalition government, Paetongtarn must unite various political
factions while boosting investor confidence in high-tech industries. Thailand’s 
markets have responded positively, with the SET Index rising nearly 11 percent since
her nomination, indicating hope for a stable and prosperous future.

Paetongtarn Shinawatra became Thailand’s Prime Minister after Srettha Thavisin resigned
due to a Constitutional Court ruling that his appointment of a Cabinet member with
a past conviction violated ethical standards. The ruling is believed to have been
influenced by conservative pressure. Paetongtarn has stated her intention to focus
on reviving the country’s struggling economy. However, some analysts predict she
will face challenges in maintaining political stability following the recent turmoil.