Finance minister defends Bt400bn borrowing decree as ‘not a blank cheque’

11 Sept 12:51 Key points summarised by AI

Finance Minister Ekniti Nitithanprapas defended a 400 billion baht borrowing decree, asserting its necessity for economic stability amidst global price hikes and clarifying it's not a 'blank cheque'.
The minister justified the loan by citing a slowing economy, rising inflation, a significant current account deficit (nearly 600 billion baht in one quarter due to oil imports), and declining purchasing power.
Funds from the decree are designated for the Thai Chuay Thai Plus scheme to support citizens and businesses, and to accelerate the national transition from fossil fuels to clean energy, aiming to transform crisis into opportunity.
Opposition MPs, notably Korn Chatikavanij, criticized the decree for limiting parliamentary scrutiny, questioned the efficacy of the aid scheme, and expressed skepticism about ambitious clean energy targets, warning that the loan could push public debt above the 70% GDP ceiling.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Yesterday 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.