Thailand Mobilizes Budget and Loans to Combat Soaring Oil Prices
Thailand's cabinet convened Monday to address rising oil prices, planning to draw from multiple funding sources including loans and the petroleum fund to control energy costs and support farmers and the public.
Deputy Prime Minister and Commerce Minister Supachai Suthammapant outlined the government's approach to tackling surging oil prices, emphasizing that this issue is a top priority. On Monday, senior cabinet members including Deputy Prime Minister Ekniti Nitithumrong (Finance Minister), Deputy Prime Minister Pakorn Nilpraphan, Energy Minister Ekanath Prapunthorn, and Industry Minister Warawut Silpajacha convened to discuss measures for controlling energy and living costs. Cabinet is expected to approve concrete measures next week for managing energy prices, living expenses, and agricultural commodity prices, with consideration for drawing on various budget sources including central budget allocations, loans, and the petroleum fund to maximize benefits for farmers and the public.
