ID :
212555
Thu, 10/13/2011 - 10:39
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http://m.oananews.org//node/212555
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UTCC estimates initial flood damages at 156 billion baht
BANGKOK, October 13 (TNA) - The University of the Thai Chamber of Commerce (UTCC) has estimated initial flood damages in Thailand at 156 billion baht, while saying the growth of the gross domestic product should drop by 1.3-1.5 percent.
Thanavath Phonvichai, director of the UTCC’s Economic and Business Forecasting Centre, said on Thursday present flood damages were estimated at 156.7 billion baht, rising by 50 billion baht from the previous estimate last week.
Thanavath also said flooding is likely to affect the GDP growth by 1.3-1.5 percent and the GDP growth is expected only at 3-3.5 percent this year. He added that damages to industries are estimated at 50 billion baht and those to agriculture at 68.6 billion baht, while flood-damaged paddy fields have expanded to 8 million rai or 12,800 square kilometres, equivalent to 5-6 million tons of damaged rice, among other damages to livestock, fishery, tourism, trade, houses and public properties.
Meanwhile, Thanavath said he has asked the monetary policy committee of the government to maintain its repurchase rate at 3.5% in its meeting on October 19.
Thailand’s consumer confidence index in September dropped to 81.8, decreasing from 83.4 in August due to flooding. (TNA)
Thanavath Phonvichai, director of the UTCC’s Economic and Business Forecasting Centre, said on Thursday present flood damages were estimated at 156.7 billion baht, rising by 50 billion baht from the previous estimate last week.
Thanavath also said flooding is likely to affect the GDP growth by 1.3-1.5 percent and the GDP growth is expected only at 3-3.5 percent this year. He added that damages to industries are estimated at 50 billion baht and those to agriculture at 68.6 billion baht, while flood-damaged paddy fields have expanded to 8 million rai or 12,800 square kilometres, equivalent to 5-6 million tons of damaged rice, among other damages to livestock, fishery, tourism, trade, houses and public properties.
Meanwhile, Thanavath said he has asked the monetary policy committee of the government to maintain its repurchase rate at 3.5% in its meeting on October 19.
Thailand’s consumer confidence index in September dropped to 81.8, decreasing from 83.4 in August due to flooding. (TNA)
