That will bring total new borrowing in the fiscal year to 1 trillion THB, Deputy Spokesperson of the Government Radklao Suwankhiri told a news briefing on July 2. Meanwhile, Government Spokesman Chai Wacharonke said the additional borrowing will be used to fund the digital wallet handout, scheduled to begin in the fourth quarter, at a cost of 500 billion THB. The plan is opposed by the Bank of Thailand (BOT) and some economists for its potential inflationary and fiscal impact. In May, the country's cabinet approved a plan to increase the 2024 fiscal budget by 122 billion THB to help finance the stimulus programme. Rudklao noted that the additional loan of 276 billion THB is intended to support projects of the State Railway of Thailand and the new debt restructuring plan for SOEs, along with an additional loan of 3.47 billion THB from domestic sources.
