Bangkok Post
Court to rule on July 9 on B400bn borrowing decree
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The Constitutional Court said on Wednesday that it will issue its ruling on the legality of the government’s 400-billion-baht emergency borrowing decree on July 9.
Key facts
- The Constitutional Court said on Wednesday that it will issue its ruling on the legality of the government’s 400-billion-baht emergency borrowing decree on July 9.
- The cabinet on May 5 approved the emergency decree to borrow 400 billion baht, with 200 billion going to alleviate cost of living pressures arising from the Middle East war, and another 200 billion to be used to support the transition to
- Public debt is currently around 66.4% of Thailand’s gross domestic product (GDP), below the 70% statutory ceiling, and the new borrowing would not breach the limit, Mr Ekniti added.
- The opposition People’s Party had sought a court ruling on the decree under Section 172 of the Constitution
Summary
The cabinet on May 5 approved the emergency decree to borrow 400 billion baht, with 200 billion going to alleviate cost of living pressures arising from the Middle East war, and another 200 billion to be used to support the transition to renewable energy.
The opposition People’s Party had sought a court ruling on the decree under Section 172 of the Constitution. It argued that the prevailing situation did not meet the strict test of an “urgent and unavoidable necessity” required to justify using an emergency decree instead of a standard parliamentary bill.