Thailand's Finance Minister Ekniti Nitithanprapas announced plans for significant investment reform, viewing the current energy crisis as a critical opportunity to restructure the nation's economy and ensure its long-term survival.

Thailand's Finance Minister Ekniti Nitithanprapas has warned that attempts to keep energy prices artificially low, defying market mechanisms, could lead to severe economic consequences for the country.

The Thai cabinet is expected to approve a series of cost-of-living relief packages aimed at vulnerable groups, as well as the transport and agriculture sectors. Finance Minister Ekniti Nitithanprapas confirmed the packages are set for approval on Saturday.

Thailand's caretaker finance minister, Ekniti Nitithanprapas, forecasts that every US$10 increase in the oil price per barrel will reduce the country's GDP by 0.2 percentage points.

Thailand's Ministry of Energy is set to recalculate oil refining and marketing costs by Monday, a move expected to lead to lower energy prices. Finance Minister Ekniti Nitithanprapas confirmed the initiative on Thursday.