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Thai court upholds emergency borrowing for economic relief

Thai court greenlights government's $12bn emergency borrowingThai court rules government’s $15 billion emergency loan is lawful

Thailand's Constitutional Court ruled on Thursday that the government can legally borrow 400 billion baht, or about $12 billion to $15 billion, under an emergency decree approved by Prime Minister Anutin Charnvirakul's administration.

The decision clears the way for relief measures, including a consumer subsidy scheme, as policymakers try to soften the impact of higher oil prices linked to the Middle East crisis and support a weakening economy.

  • Thailand is one of Southeast Asia's largest economies and a major exporter of manufactured goods.
  • The baht has been Thailand's currency since the 19th century.
  • Energy imports make Thailand vulnerable to global oil price swings.
Thai court upholds emergency borrowing for economic relief | Implica