Govt awaits Council of State's opinion on 500bn borrowing plan, avoids pressure
The government will patiently await the Council of State's opinion on the government’s plan to borrow 500 billion baht. The administration will not pressure the legal advisory board to expedite the deliberation," said a deputy finance minister.
Deputy Finance Minister Julapun Amornvivat stated that the government is still awaiting the Council of State's opinion on the 500-billion-baht bill and cannot interfere with the legal advisory board's work.
Last month, the government sought the Council of State's opinion on whether the 500-billion-baht bill could be enacted to provide sufficient funds for the digital wall scheme. This scheme aims to allocate 10,000 baht to every Thai aged 16 and above through a digital wallet to stimulate the economy. However, individuals with a monthly income of 70,000 baht or savings exceeding 500,000 baht in their bank accounts would be excluded.
Julapun mentioned that the Council of State had earlier informed the government that its opinion would be delivered early this month. "We must approach the council with due respect and allow them time to prudently consider the issue," Julapun emphasized. "We must wait and refrain from inquiring when the opinion will be provided."
The government opted to seek this opinion after critics and the opposition highlighted that the economic situation did not warrant the administration to obtain such a large loan.
Article 53 of the 2018 State Fiscal and Financial Discipline Act stipulates that the government may seek off-budget loans or loans not covered by the law on public debt administration in urgent situations requiring action to address critical problems when annual appropriations cannot be promptly fixed.
Julapun noted that although the Council of State's opinion does not legally bind the government, the administration should give it due consideration.
