Bangkok Post
Loan decree 'must pass'
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Finance Minister Ekniti Nitithanprapas insisted the 400-billion-baht emergency borrowing decree must go ahead, saying the government must act swiftly to address a deepening cost-of-living crisis despite parliamentary delays caused by legal challenges.
Key facts
- Finance Minister Ekniti Nitithanprapas insisted the 400-billion-baht emergency borrowing decree must go ahead, saying the government must act swiftly to address a deepening cost-of-living crisis despite parliamentary delays caused by legal challenges.
- Mr Ekniti, also a deputy prime minister, said the loan package was essential to shield households and small businesses from mounting economic pressures driven by soaring energy prices and inflation.
- Although the decree was due to be debated in parliament on Thursday, consideration has been suspended after opposition lawmakers petitioned the Constitutional Court to review its legality.
- Speaking after the postponement on Thursday, Mr Ekniti argued that Thailand is facing a different kind of economic emergency from the 1997 Asian financial crisis or the 2008 subprime mortgage crisis.
- "This is a livelihoods and cost-of-living crisis that has come in waves," he said.
Summary
Mr Ekniti, also a deputy prime minister, said the loan package was essential to shield households and small businesses from mounting economic pressures driven by soaring energy prices and inflation.
Although the decree was due to be debated in parliament on Thursday, consideration has been suspended after opposition lawmakers petitioned the Constitutional Court to review its legality.