Thai cabinet approves $15b emergency borrowing decree, PM says

BANGKOK - Thailand's cabinet on Tuesday (May 5) approved an emergency decree to borrow 400 billion baht (S$15 billion) to alleviate cost of living pressures and support energy costs, Prime Minister Anutin Charnvirakul said.

• The borrowing is necessary because higher energy prices will impact everyone, Finance Minister Ekniti Nitithanprapas said.
• Half of the borrowing will be targeted towards vulnerable groups and the other half will be used to help the energy transition.
• "We have to help vulnerable groups," he said, adding the government will try to reduce living costs and push for clean energy use.
• All of the borrowing will be sourced from within Thailand, he said, adding that the decree will be put to parliament next week.

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