Bangkok: Ekniti Nitithanprapas, Deputy Prime Minister and Minister of Finance, has dismissed the Democrat Party's plan to petition the Constitutional Court for an interpretation of the emergency decree authorizing a 400 billion baht loan. He refuted claims from the opposition, insisting that the government's issuance of the loan was not a blank check but based on urgent necessity.
According to Thai News Agency, Ekniti responded to the Democrat Party's intent to challenge the legality of the loan decree by emphasizing that all possible options had been explored, including reallocating the 2026 budget. This reallocation was deemed delayed and inefficient, amounting to no more than 50 billion baht. With the 2027 budget cycle starting on October 1, 2026, only five months remained, underscoring the urgent need to support the public and businesses amidst the crisis. Ekniti asserted that the budget was insufficient, necessitating the emergency decree.
Ekniti addressed the Democrat Party's concerns, expressing confidence in the decree's legitimacy. He referenced the historical precedent during the Abhisit government, where loans were used for the "Strong Thailand" project and the matter explained to the court. He acknowledged the role of Mr. Korn Chatikavanij, the Democrat Party's Deputy Leader and Minister of Finance, understanding the situation's complexity. Ekniti cited Article 172 of the Constitution of the Kingdom of Thailand, noting no other viable alternatives.
Additionally, Ekniti responded to a statement by Ms. Sirikanya Tansakul, deputy leader of the People's Party, who likened the loan to a blank check. He clarified that the emergency decree grants the Ministry of Finance borrowing authority, with details to be disclosed later. Amidst an ongoing global and energy crisis, Ekniti emphasized the decree's intent to mitigate impacts on the public and businesses, stressing the need for economic and energy sector restructuring.
Ekniti further highlighted that the decree is not a blanket expenditure. A committee is established to vet projects, ensuring that funds are not misused or perceived as a blank check. The decree aims to address long-term challenges and foster a shift towards more renewable energy sources in Thailand's energy structure.