Bangkok Post
Understanding emergency debt decrees
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Anutin Charnvirakul is the sixth Thai prime minister to issue an emergency decree authorising the Finance Ministry to borrow funds, this time in an effort to address the impact of the energy crisis and support the country's energy transition.
Key facts
- Anutin Charnvirakul is the sixth Thai prime minister to issue an emergency decree authorising the Finance Ministry to borrow funds, this time in an effort to address the impact of the energy crisis and support the country's energy transition.
- According to Finance Minister Ekniti Nitithanprapas, the emergency loan decree authorising up to 400 billion baht in borrowing to address the economic fallout from global crises, approved on May 5 by the cabinet, will be submitted to parliament on May 14.
- The loan package is divided into two equal components. The first 200 billion baht funds immediate relief measures for vulnerable households and businesses affected by the crisis.
- The remaining 200 billion baht supports Thailand's transition towards renewable and clean energy, including investment in alternative energy technologies, improvements in energy efficiency, and initiatives aimed at reducing dependence on imported oil and natural gas.
- Mr Ekniti said the government opted to issue an emergency decree rather than rely on the budgetary process due to limited available funds and the urgency of the situation.
Summary
According to Finance Minister Ekniti Nitithanprapas, the emergency loan decree authorising up to 400 billion baht in borrowing to address the economic fallout from global crises, approved on May 5 by the cabinet, will be submitted to parliament on May 14.
The loan package is divided into two equal components. The first 200 billion baht funds immediate relief measures for vulnerable households and businesses affected by the crisis.