Authorities are preparing to seek a loan from commercial banks to stabilise Thailand’s fast-depleting Oil Fuel Fund, following the announcement of the new cabinet under Prime Minister Anutin Charnvirakul.

Food exports are projected to decline by 7.3% year-on-year to 1.4 trillion baht this year, possibly hitting their lowest level in five years due to Middle East conflicts, say industry groups.

Any attempt to keep energy prices artificially low, in defiance of market mechanisms, could trigger a double whammy within the country, says Finance Minister Ekniti Nitithanprapas.

The family of Myanmar junta leader Min Aung Hlaing purchased a luxury home worth nearly 100 million baht in Bangkok, bypassing Thai laws prohibiting foreigners from owning land or houses in the country, according to a human rights group.

Analysts are expressing concerns about the new government’s ability to manage skyrocketing oil prices, as Houthi rebel involvement signals a broadening and prolonged conflict in the Middle East.

The Federation of Thai Industries (FTI) has called on the government to introduce urgent measures, including a possible excise tax reduction on fuel, to help small and medium-sized enterprises (SMEs) cope with escalating operating costs driven by surging global crude oil prices.