Ministry estimates B2tn available for party pledges

The new government will have room to spend at least 2 trillion baht to fulfil its populist campaign pledges, according to a Finance Ministry source who requested anonymity.

It is estimated that more than 500 billion baht may be required to finance the 10,000-baht handouts via digital wallet promised to people aged 16 and older by Pheu Thai Party, which is a leading contender to form a new government.

LIMITATIONS

If the new government wants to borrow money to fund populist policies, it can do so by launching an emergency decree. But the decree issuance has to follow terms and conditions, such being necessary and urgent, with the government unable to secure other sources of funding other than borrowing, said the source.

The current government launched two emergency loan decrees in 2020 and 2021 to allow it to borrow a combined 1.5 trillion baht to mitigate the…