Small firms face 'shock' of wage rise | Bangkok Post: news

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Small firms face 'shock' of wage rise

CENTRAL BANK OFFICIAL ISSUES WARNING

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Business operators must adjust or go out of business following the full-scale increase of the minimum wage to 300 baht per day, a central bank senior official has warned. 

The Labour Ministry conceded Saturday that the nationwide wage hike from Jan 1 would place more than 2,000 small and medium enterprises (SMEs) in hardship.

Somsajee Siksamat, director of the Bank of Thailand's Statistics Office, described the coming wage increase as a "shock" to the economic system.

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