BANGKOK: Thailand approved a US$12.2 billion emergency borrowing package on Tuesday (May 5) to cushion the economic impacts of the Middle East war, marking one of the country's largest borrowing plans in decades. The cabinet said the funding would be used to boost domestic spending and ease economic hardships as inflation rises and growth slows, with the finance ministry last week cutting its GDP growth forecast to 1.6 per cent, from 2.4 per cent last year. The loan of about 400 billion baht

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