Prime Minister Prayut Chan-o-chan wants the new economic team headed by Deputy Prime Minister Somkid Jatusripitak to show substantial results within three months, a government spokesman says.
Meanwhile, the team is expected to propose a new stimulus package worth more than 50 billion baht next week.
The prime minister is aware of public expectations of the new economic ministers and has instructed them to get him prompt results, spokesman Maj Gen Sansern Kaewkamnerd said.
New economy czar Somkid Jatusripitak (second from right) attended his first cabinet meeting after being sworn in by His Majesty the King on Monday, and told by the prime minister to produce in 90 days, or else. (Photos courtesy of Government House)
Gen Prayut has stressed the need for the economic team to come up with measures to boost public spending across society as a whole and not just concentrate on the macro-economy.
"The prime minister told [the cabinet] that time is running out," Maj Gen Sansern said. "And three months from now people must start to see positive changes. He also hopes the economy will pick up. We need to adjust and find ways to cope."
- Stimulus plan: Cheap loans for 'grass roots'
Maj Gen Sansern said Mr Somkid has been instructed to figure out how to attract foreign investors with fresh investment privileges during 2015-2016 as some investors feel present ones are not attractive enough.
Mr Somkid is expected to propose stimulus packages to the cabinet for consideration next week, Budget Bureau director Somsak Chotrattanasiri said.
He said the deputy prime minister has discussed the measures with Finance Minister Apisak Tantivorawong.
The stimulus packages are brand new, not reincarnations of old measures and there is more than 50 billion baht in the central budget for spending to help get the economy going again, Mr Somsak said.
Speaking after Tuesday's cabinet meeting, the first after the swearing-in ceremony, Gen Prayut said the assignment of duties among his deputies as part of his reshuffle announced recently is complete.
Gen Prayut said his first cabinet laid the necessary groundwork and the second cabinet's mission will be to drive the country forward.
On the economic front, he said the new line-up is expected to give a clear direction on investment projects, which are key to driving the economy and business, and fostering economic ties with foreign investors.
He said all priority projects, including high-speed trains, double-track rail lines and new motorways, need to see progress by the end of the year.
"Old and new ministers must work together. I don't divide people. It depends on how much they can do and how much respect they have for each other," he said.
The division of responsibilities has Mr Somkid taking charge of all key ministries in charge of the economy including the Foreign Affairs and Transport ministries.
Deputy Prime Minister ACM Prajin Juntong will supervise the Energy, Education, ICT and Labour ministries.
Gen Tanasak Patimapragorn is in charge of the Tourism and Sports and the Culture ministries.
ACM Narong Pipatanasai oversees the Social Development and Human Security Ministry and Public Health Ministry while the duties of deputy prime ministers Prawit Wongsuwon and Visanu Krea-ngam remain unchanged.
Gen Prawit has responsibility for security and Mr Wissanu is in charge of the government's legal affairs.
New cabinet members including Deputy Prime Minister Somkid Jatusripitak (second from right) were sworn in by His Majesty the King on Monday.
Meanwhile, the cabinet Tuesday approved several transfers and appointments of senior ministry officials including six permanent-secretaries, Maj Gen Sansern said.
Agriculture permanent secretary Chavalit Chookajorn is now at the Prime Minister's Office as an inspector-general. His replacement is yet to be named.
Mr Chavalit is suspected by the National Anti-Corruption Commission of involvement in irregularities in the longan mortgage scheme in 2004.
Other transfers include Somchai Sujjapongse, director-general of the Customs Department, who is now finance permanent secretary, while deputy transport permanent secretary Chartchai Tipsunave is now the permanent secretary.
Elsewhere, Department of Skill Development chief ML Puntrik Smiti is now labour permanent secretary; Department of Special Investigation chief, Suwana Suwanjata, becomes justice permanent secretary; and chief of Department of Industrial Promotion, Arthit Wuthikaro, is industry permanent secretary.