Thai cabinet approves $12.2 billion emergency borrowing decree, PM says

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BANGKOK, May 5 : Thailand's cabinet on Tuesday approved an emergency decree to borrow 400 billion baht ($12.2 billion) to alleviate cost of living pressures and support energy costs, Prime Minister Anutin Charnvirakul said.

• The borrowing is necessary because higher energy prices will impact everyone, Finance Minister Ekniti Nitithanprapas said.

• Half of the borrowing will be targeted towards vulnerable groups and the other half will be used to help the energy transition.

• "We have to help vulnerable groups," he said, adding the government will try to reduce living costs and push for clean energy use.

• All of the borrowing will be sourced from within Thailand, he said.

($1 = 32.7500 baht)

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