Senate passes the government’s 400 billion baht loan decree

Thailand’s Senate voted today 135 to 11 in favour of the government’s 400 billion baht loan decree, aimed at boosting the sluggish economy and preparing for Thailand’s transition from fossil-based to clean and renewable energy.

After the vote, Finance Minister Ekniti Nitithanprapas thanked the senators for their support as he reassured them of the government’s intention to carry out the objectives of the decree.

He emphasised the necessity and importance of the additional public borrowing, without which he said many people would face hardships and numerous businesses may close due to the impacts of global oil price increases resulting from the war in the Middle East.

Ekniti said he trusts the finance permanent secretary, in his capacity as head of the screening committee tasked with considering all the projects to be funded by the borrowed money.