Thailand Pushes Ahead With $12 Billion Crisis Loan as Court Reviews 400 Billion Baht Decree
Updated
Updated · Bloomberg · May 19
Thailand Pushes Ahead With $12 Billion Crisis Loan as Court Reviews 400 Billion Baht Decree
2 articles · Updated · Bloomberg · May 19
Thailand is proceeding with a 400 billion baht ($12 billion) emergency borrowing plan even as a court challenge threatens to complicate the rollout.
Prime Minister Anutin Charnvirakul’s government says the funds are needed to cushion surging energy costs and slowing economic growth less than two months after taking office.
The package is set to finance cash handouts, fuel relief and subsidies, while also speeding Thailand’s shift from fossil fuels to renewable energy.
The legal risk stems from a Constitutional Court review after 133 lawmakers argued the emergency decree may not meet the constitutional test of urgent necessity and bypasses parliamentary approval.
With its energy crisis deepening, can Thailand afford a legal battle over its 400 billion baht rescue plan?
Will Thailand's court prioritize immediate relief or uphold strict parliamentary control over long-term government spending?