By Reuters and published by CNA
THE Pheu Thai-led coalition government plans to increase the daily minimum wage to 400 baht ($10.84) from October, a spokesperson said today (May 2), a policy that could help lift consumption in Southeast Asia’s second-largest economy.
A committee will meet this month to assess which industries are prepared for the increase and what assistance could be offered to those that are not ready, spokesperson Chai Wacharonke said.
The government this week cut its growth forecast for 2024 to 2.4 percent from 2.8 percent, but said growth could still reach 3.3 percent if its signature 500 billion baht “digital wallet” handout designed to boost spending is launched in the fourth quarter as expected.
Last year, the government announced an increase in the daily minimum wage of 2.37 percent to a range of 330 baht to 370 baht, a hike that Prime Minister Srettha Thavisin deemed too low.
The ruling Pheu Thai party campaigned on a promise to bring the minimum wage to 600 baht by 2027.
The previous government increased the minimum wage by 5.02 percent in 2022.
($1 = 36.8900 baht)
CAPTIONS:
Top: Construction workers building a high-rise. Photo: Thai Rath
Front Page: A general view of a street in Bangkok on November 17, 2022. File photo: Reuters/Jorge Silva and published by CNA
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