Nation Thailand
Ekniti defends B400bn loan decree as oil shock hits Thai economy ahead of court ruling
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Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas has defended the government’s 400-billion-baht emergency loan decree as essential to sustaining the economy in the short term and reducing the impact of rising global oil prices, which he said had contributed significantly to Thailand’s current account deficit.
Key facts
- His defence came ahead of a Constitutional Court ruling scheduled for July 9 on whether the decree, which authorises the Finance Ministry to borrow funds to address the energy crisis and support the country’s energy transition, complies
- Speaking to reporters after the presentation of the draft Budget Transfer Act for fiscal 2026 to the Senate, Ekniti said Thailand was facing overlapping crises and could not rely only on faster budget disbursement
- On the fiscal 2027 budget, which is now under committee consideration, Ekniti said the process should be transparent, open and free of hidden agendas, while strictly observing fiscal discipline.
- Thailand’s VNL 2026 fate on the line as bottom-ranked team faces relegation and 2027 exclusion
Summary
His defence came ahead of a Constitutional Court ruling scheduled for July 9 on whether the decree, which authorises the Finance Ministry to borrow funds to address the energy crisis and support the country’s energy transition, complies with the Constitution.
Speaking to reporters after the presentation of the draft Budget Transfer Act for fiscal 2026 to the Senate, Ekniti said Thailand was facing overlapping crises and could not rely only on faster budget disbursement. He said funds should be transferred from projects that have not yet entered the procurement process to support measures aimed at sustaining the economy and cushioning the public from the impact of the crises.