ID :
211785
Sat, 10/08/2011 - 10:53
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Shortlink :
http://m.oananews.org//node/211785
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Thai economy's growth forecast lowered amid floods
BANGKOK, October 8 (TNA) - Bangkok-based University of the Thai Chamber of Commerce (UTCC) has cut its forecast for Thailand's economic growth this year by 0.8 per cent due to the ongoing over-two-month flooding crisis.
Thanawat Polvichai, Director of the UTCC’s Economic and Business Forecasting Centre, said he expected that Thailand's gross domestic product (GDP) growth this year to be only 3.6 per cent, down from an earlier projection of 4.4 per cent, reasoning that the country's vast floods have largely affected local farm, industrial, and business sectors, with total damage initially estimated at some 104 billion baht.
Meanwhile, Thai Deputy Prime Minister Chumpol Silapa-archa, who is also Tourism and Sports Minister, acknowledged that the Thai tourism industry has been less affected by the ongoing floods than other industries, although many travel agencies have re-arranged their tour programs in flood-affected areas. (TNA)
Thanawat Polvichai, Director of the UTCC’s Economic and Business Forecasting Centre, said he expected that Thailand's gross domestic product (GDP) growth this year to be only 3.6 per cent, down from an earlier projection of 4.4 per cent, reasoning that the country's vast floods have largely affected local farm, industrial, and business sectors, with total damage initially estimated at some 104 billion baht.
Meanwhile, Thai Deputy Prime Minister Chumpol Silapa-archa, who is also Tourism and Sports Minister, acknowledged that the Thai tourism industry has been less affected by the ongoing floods than other industries, although many travel agencies have re-arranged their tour programs in flood-affected areas. (TNA)
