The condition necessary for addressing Thailand’s most critical problems is a return to democratic government, Somkiat said.
He identified the six main issues facing Thailand as:
1. Employment: Despite the post-pandemic economic recovery, the current unemployment rate of 1.05% means about 400,000 people do not have jobs. The good employment data, however, obscures the fact that wages are low, Somkiat said. If political parties adjust the minimum wage, it should be done appropriately, reflecting inflation and rising prices. The minimum wage should be raised to at least 390 baht.
2. Household debt: Low wages are causing household debt to rise. The Bank of Thailand forecast that by the end of 2022, household debt would reach around 15 trillion baht, accounting for 87% of gross domestic product (GDP). Furthermore, the recent redefinition of household debt by including two to three…
