Thai cabinet approves handouts, minimum wage increase and tax breaks, PM says

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Thai cabinet approves handouts, minimum wage increase and tax breaks, PM says

^{Published on 2024-12-24 12:00:39 - MSN}

Thailand's cabinet on Tuesday approved new minimum wage increases from January, tax breaks to boost spending and the second phase the government's signature handout scheme, the prime minister said. Paetongtarn Shinawatra also told reporters she hoped for economic growth of more than 3% next year.

The Thai cabinet has approved a series of economic measures aimed at stimulating the economy, as announced by Prime Minister Srettha Thavisin. These measures include a 10,000 baht ($270) handout to be distributed to 50 million Thais starting in May, an increase in the daily minimum wage, and tax breaks for companies. The handout program, part of the "digital wallet" initiative, will be financed through a 500 billion baht borrowing bill. Additionally, the minimum wage will see an increase to 400 baht ($11) per day, and there will be a reduction in electricity and fuel prices. These steps are part of a broader strategy to boost economic growth, which has been sluggish, with the government aiming for a 5% growth rate. The Prime Minister emphasized the urgency of these measures due to the economic challenges faced by the country.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/thai-cabinet-approves-handouts-minimum-wage-increase-and-tax-breaks-pm-says/ar-AA1wpxbZ ]

N@N

Thai cabinet approves handouts, minimum wage increase and tax breaks, PM says