Thai Senate passes 3 executive decrees to permit loans to fund COVID-19 relief efforts

The Finance Minister, Uttama Savanayana.
The Finance Minister, Uttama Savanayana.

BANGKOK– After two days of deliberation, the Senate today passed three executive decrees proposed by the cabinet. The decrees authorize the government to acquire loans to cushion the adverse impacts of COVID-19.

The Senate today considered the three decrees, after they were endorsed by the House of Representatives. During the session, senators urged the government to make sure that its spending benefits all sectors and that it will be open to public scrutiny.

The Finance Minister, Uttama Savanayana, explained that the government is mitigating the impact of COVID-19 in four key areas. The first area is public health, which involves assistance to health care providers, who are working to help limit the virus’s spread. The second is to boost liquidity and help affected people and entrepreneurs. This will allow the government to update its database on the general public and the business sector. The third area is to maintain the stability of the bond market. The fourth area deals with restoring the economy and people’s confidence after the pandemic ends and preparing for changes in the global economy.

Mr. Uttama said the government wants the three executive decrees to pass, so that it can help and take care of all people and entrepreneurs. There is a system for inspecting and assessing government spending, and it complies with financial, legal and other relevant requirements. The government will take the Senate’s advice and information into consideration, and will continue working in the best interests of the country.

The Senate then passed the three executive decrees, which will be promulgated shortly.(NNT)