Nation aims to be upper-income by 2027

Prime Minister Srettha Thavisin (Photo: Pattarapong Chatpattarasill)
Prime Minister Srettha Thavisin (Photo: Pattarapong Chatpattarasill)

The government will turn Thailand into an upper-income country within four years, says Prime Minister Srettha Thavisin.

He said that within four years the Thai economy will expand by an average of 5% per year and the minimum daily wage will be at 600 baht per day by 2027.

In the initial step, the minimum wage will be increased to 400 baht per day and the salary for a university graduate with a bachelor's degree will be 25,000 baht per month. This will be part of a transition towards becoming an upper-income country as the government will be able to collect a higher amount of tax.

The country will soon be facing the El Niño phenomenon, which will affect around 20 million farmer households, while farmers are still debt-ridden.

The rapid ageing of the population also heralds a new set of challenges and risks.

In the short term, the government will prioritise increasing income, reducing expenses, and investing in infrastructure.

The government's economic measures, particularly the 10,000-baht digital handout scheme, will stimulate both demand and supply, which would lead to money circulating in the economy and contribute to GDP growth, Mr Srettha claimed.

In terms of tourism, the government will begin visa-free measures similar to those with China and Kazakhstan, and develop tourist attractions.

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  • debt (noun): an amount of money that you owe - หนี้, นี้สิน
  • economy: the relationship between production, trade and the supply of money in a particular country or region - เศรษฐกิจ
  • El Nino: unusually warm ocean temperatures in the Equatorial Pacific -
  • GDP: gross domestic product, the total value of all goods and services produced in a country in a year, except for income received from money invested in other countries ผลิตภัณฑ์มวลรวมภายในประเทศ -
  • handout: an amount of money or goods giving to people who need them - การให้ทาน
  • income: money that someone gets from working or from investing money - รายได้
  • infrastructure: the set of systems within a place or organisation that affect how well it operates, for example the transport and communication systems in a country - ระบบสาํธารนูปโภค
  • initial: early; first - เบื้องต้น
  • measure: a firm action taken to solve a problem or stop a dangerous unpleasant situation - มาตราการ
  • salary: a fixed amount of money that you earn each month or year from your job - เงินเดือน
  • stimulate: to make something develop or become more active; to encourage something - กระตุ้น, ส่งเสริม
  • tax: money that you have to pay to the government so that it can pay for public services - ภาษี
  • wage: an amount of money that you earn for working, usually according to how many hours or days you work each week or month - ค่าจ้าง
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