Ekniti Nitithanprapas tipped as finance minister in Bhumjaithai-led government

He is regarded as one of the “outsider ministers” expected to spearhead efforts to revive the economy and restore investor confidence.

The speculation emerged after Bhumjaithai leader Anutin Charnvirakul was endorsed by the House of Representatives as Thailand’s 32nd prime minister on Friday. 

Cabinet formation talks swiftly followed, with the finance portfolio seen as pivotal in driving economic recovery, boosting investor sentiment in the second half of the year, and advancing tariff negotiations with the United States.

On Saturday, Ekniti was seen at Bhumjaithai headquarters in discussions with Anutin, Santi Promphat of the Palang Pracharath Party, incoming foreign minister Sihasak Phuangketkeow, and incoming energy minister Auttapol Rerkpiboon. 

Senior Bhumjaithai sources confirmed to Krungthep Turakij that the party has approached Ekniti, currently director-general of the Treasury Department, to serve as finance minister.

Ekniti, 54, is the son of Issara Nitithanprapas, former president of the Constitutional Court, and Phanit Nitithanprapas, former chief ombudsman and permanent secretary at both the Prime Minister’s Office and the Ministry of Social Development and Human Security. He is married to Roykaew Nitithanprapas (née Aksaranukroh).

Education and career

Ekniti graduated with a bachelor’s degree in economics (first-class honours) from Thammasat University on a Thammasat Association scholarship. 

He later earned a master’s degree in economics from the University of Illinois at Urbana-Champaign, and a doctorate in economics from Claremont Graduate University, both funded by Thailand’s Civil Service Commission.

After completing his studies, he entered public service at the Ministry of Finance, serving as financial attaché for the United Kingdom and Europe. He later became a senior adviser at the World Bank in Washington, DC. 

His career also includes roles as spokesperson for the Ministry of Finance, securities analyst at Phatra Thanakit, deputy director of the Fiscal Policy Office, director of the State Enterprise Policy Office, and director-general of the Revenue Department, Excise Department and Treasury Department.

Board and committee experience

In addition to his civil service career, Ekniti has served on the boards of several leading financial institutions and state enterprises, including:

• Chairman, National Credit Bureau 
• Director and member of the nomination, remuneration and corporate governance committee, Siam Commercial Bank
• Director and chairman of the executive board, Export-Import Bank of Thailand (EXIM Bank)
• Director and chairman of the risk management committee, Krung Thai Asset Management
• Director, TSFC Securities
• Director, Small and Medium Enterprise Development Bank (SME D Bank)
• Director, KT-ZMICO Securities 
• Director, Imperial Technology 
• Director, and chairman of the innovation and risk management committees, Aeronautical Radio of Thailand 
• Chairman, Thanachart Bank 
• Chairman and Director, Thai Airways International 
• Director and member of the risk management committee, IRPC 
• Director and Secretary, Public-Private Partnership Policy Committee
• Director and Secretary, Supervisory Committee of the Vayupak Fund