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.
