20 April 69

The government is preparing to issue a $500 billion loan, pointing out the urgent need to deal with redundant crises, both from high energy prices and the super-El Niño that Thailand will face.

Today (April 20, 69), the Deputy Prime Minister revealed that the Government is considering the issuance of a $500,000 million loan to prepare for a potential crisis. The issuance of the Royal Commission is a constitutional government authority that the Government can do to support the crisis. According to Article 172, the issuance of the Royal Emergency Emergency can be urgent for security or the economy. However, the legal procedure states that when the Government issues the Royal Commission. Done. By law, it is obliged to present to the House of Representatives deliberations at the first opportunity that can be done immediately.

As for the legal reasons for choosing to use it as an O.D., Mr. King clarified that because the current situation is urgently necessary and an emergency, because the current inventory position is relatively small and fixated, while the country is facing all-round risks, especially external factors that are difficult to predict, both war situations and environmental crises like the Super El Niño phenomenon, to affect agricultural and economic productivity on a large scale, the government must have a budget to prepare for these emergency situations.

"In practice, although the actual loan may not be the full limit of 500 billion, according to the public debt management principle, the government needs to first extend the debt ceiling in accordance with the full loan limit specified in the law," Mr Korn said.

The issuance of the Budget Transfer Act can be implemented in parallel to provide the government with a source of money to support the upcoming crisis.

For the issuance of this loan, it will have to be implemented after the public debt ceiling has been extended from 70% at present. The debt is currently about 66% of gross domestic product (GDP). There is a need to expand the ceiling. What is it, the Treasury will conclude the ceiling again to support the new loan line because the current fiscal space is becoming limited.

In addition, Mr. King provided information on the legal status of the Fuel Fund, which, with regard to the proposal on the issuance of the R.D. The Treasury has guaranteed the loan of the 1.5 billion baht oil fund. However, the fund has been used to subsidize the price for a long time, resulting in a 100 billion baht accumulated debt that, if in the future, requires additional liquidity. The government must reconsider the laws and circumstances of the oil fund to comply with the economic conditions and potentially high energy costs. Up in the future