Ekniti Reaffirms 400 Billion Baht Loan to Address Cost of Living Crisis and Energy Security, Declines to Comment on Shin Corp Tax Collection Progress

Deputy Prime Minister and Finance Minister Ekniti Nitithanprasert emphasized the necessity of issuing a 400 billion baht loan decree to address the cost of living crisis, comparing the measure to killing two birds with one stone by both providing relief and restoring economic strength. Speaking at Government House on May 12, 2025, he reaffirmed that the government regards this as an economic security matter following the opposition's petition to the Constitutional Court.

Distinguishing the current situation from past crises like the 1997 financial crisis and banking collapse, Ekniti stressed that today's challenge is a global cost-of-living crisis constituting an economic security threat. He warned that failure to act immediately would trigger cascading crises: rising inflation leading to increased living costs, shrinking incomes, small business collapse, and ultimately unemployment. "If we don't stop this crisis now and wait for problems to worsen, when living costs rise and income falls, small businesses cannot survive independently and will suffer severe impacts, eventually creating an unemployment crisis," he stated.

Ekniti confirmed that the loan decree has been published in the Royal Gazette and is now in effect, with the government ready to proceed. Regarding the remaining 200 billion baht tranche, he clarified that both portions must be treated separately as crisis relief measures, aiming both to mitigate immediate impacts and strengthen the economy's resilience. He further noted that Thailand faces greater energy security risks than many nations due to high energy imports, making an energy transition necessary to reduce dependence on oil amid ongoing global conflicts.

When asked about the Revenue Department's progress in collecting taxes from Shin Corp stock purchases, Ekniti declined to answer before departing Government House.