Deputy PM Awaits Court Ruling On 400 Billion Baht Energy Loan
Thailand's deputy PM awaits a Constitutional Court decision on whether the government can borrow 400 billion baht to address an energy crisis driven by high global oil prices and import dependency.
At 10:20 a.m. on July 6 at Government House, Deputy Prime Minister and Finance Minister Ekniti Nitithadprasat addressed the upcoming Constitutional Court ruling on a decree authorizing the Finance Ministry to borrow up to 400 billion baht to address the energy crisis and facilitate the country's energy transition in 2025.
Ekniti stated that the government's best course of action is to present complete and accurate information justifying the necessity of the measure. Thailand's heavy reliance on energy—particularly oil—reflects in the country's current account deficit, largely driven by elevated global oil prices. He noted that ongoing global conflicts continue to damage energy infrastructure worldwide, keeping fuel prices high.
When asked about contingency plans if the court rules unfavorably, Ekniti said the government would accelerate private sector partnerships through a public-private cooperation committee. He emphasized that delays in energy transition would further weaken Thailand's already fragile economy amid persistent high global oil prices and Thailand's continued import dependency.
Ekniti mentioned ongoing discussions about transitioning to clean energy and shifting vehicle fuel consumption from diesel to biodiesel and biomass energy derived from palm, sugarcane, and sugar. Such transitions could benefit farmers through improved incomes.
Ekniti also announced launching a personal Facebook page "Dr. Ekniti Nitithadprasat" to explain the broader economic picture and welcome both positive and negative feedback from the public.
