Economic Growth and Wage Increase

Paetongtarn expressed optimism for economic growth exceeding 3% next year. The government aims to elevate the daily minimum wage to 400 baht nationwide to stimulate economic activity.

Wage Adjustment Details

The wage committee has decided on a 2.9% increase in the daily minimum wage, setting it between 337-400 baht, effective from January 1, 2025. The higher end of this range will be applicable in Phuket, Chachoengsao, Chon Buri, Rayong, and the holiday island of Samui.

Tax Breaks to Encourage Spending

In addition to the wage hike, the government has approved tax breaks to boost consumption. Deputy Finance Minister Julapun Amornvivat announced a tax deduction of up to 50,000 baht for proven spending, excluding domestic travel, available from January 16 to February 28.

Support for the Elderly

The cabinet has also approved the second phase of a handout scheme, allocating 40 billion baht to four million elderly individuals, with payments scheduled by January. This follows the first phase of the $14 billion scheme initiated in September, which has already benefited 14.5 million people with payments of 10,000 baht each. The government's goal is to extend these handouts to approximately 45 million people in total.