Paetongtarn Shinawatra Sworn in as Prime Minister

Thailand's new Prime Minister Paetongtarn Shinawatra, the youngest in the nation's history, was sworn in along with her 35-member cabinet in a ceremony presided over by King Maha Vajiralongkorn. Paetongtarn plans to roll out a $14 billion digital wallet program to stimulate the economy, giving 10,000 baht ($296) to each of approximately 50 million adult Thais, targeting vulnerable groups first. This initiative aims to counteract the country's sluggish growth, marked by high public and household debt. Paetongtarn, who succeeded Srettha Thavisin after his dismissal over ethical violations, has promised to continue some of his policies to boost tourism, farm goods prices, and tackle flooding. The new administration’s policy statement will be presented to parliament next week. The Thai economy is currently forecasted to grow at 2.5% this year, lagging behind its regional neighbors.