ID :
212543
Thu, 10/13/2011 - 09:13
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http://m.oananews.org//node/212543
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Flood crisis likely to affect Thailand's GDP growth
BANGKOK, October 13 (TNA) - Thai Deputy Prime Minister Kittirat Na-Ranong cautioned on Thursday that the ongoing flood crisis could reduce Thailand's gross domestic product (GDP) growth by at least 0.6-0.9 per cent due to expanding damage to the country's farm and industrial sectors.
Kittirat acknowledged that the vast floods, considered the country’s worst natural disaster, are worrying and that the reduced GDP growth was an initial estimate, with a thorough assessment needed in the wake of the current inundations.
Kittirat said that he will call a meeting with agencies concerned, including the Thai Ministries of Finance, Industry, Labour and Culture, as well as the Bank of Thailand (BOT) and financial institutes in Bangkok on October 17 to discuss impacts from the country's flooding crisis and to seek cooperation from the local financial institutes to provide financial support to farmers and business operators affected by the widespread floods, including extending repayment periods for their loans.
The Thai deputy premier, who is also Commerce Minister, said that he has ordered his ministry's officials to take care of consumer product prices and to bring them under control, noting, however, rising prices of products, especially sandbags and bricks used for flood prevention, are normally caused by soaring market demand. (TNA)
Kittirat acknowledged that the vast floods, considered the country’s worst natural disaster, are worrying and that the reduced GDP growth was an initial estimate, with a thorough assessment needed in the wake of the current inundations.
Kittirat said that he will call a meeting with agencies concerned, including the Thai Ministries of Finance, Industry, Labour and Culture, as well as the Bank of Thailand (BOT) and financial institutes in Bangkok on October 17 to discuss impacts from the country's flooding crisis and to seek cooperation from the local financial institutes to provide financial support to farmers and business operators affected by the widespread floods, including extending repayment periods for their loans.
The Thai deputy premier, who is also Commerce Minister, said that he has ordered his ministry's officials to take care of consumer product prices and to bring them under control, noting, however, rising prices of products, especially sandbags and bricks used for flood prevention, are normally caused by soaring market demand. (TNA)
