ID :
213208
Fri, 10/28/2011 - 13:15
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Shortlink :
http://m.oananews.org//node/213208
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Floods reduce Thailand's GDP growth by 1.5%
BANGKOK, October 28 (TNA) - The Bank of Thailand (BOT) projected on Friday the flood crisis had dampened Thailand’s GDP growth by 1.5 percent, or by 140 billion baht.
BOT Assistant Governor for Monetary Policy Paiboon Kittisrikangwan said the BOT estimated the flood crisis had reduced Thailand’s GDP growth to 2.6 percent from 4.1 percent, a decrease of 1.5 percent or 140 billion baht based on data up until October 19, 2011.
However, the estimate did not take into account the damage to the Banggadee Industrial Estate, or the opportunity losses in the goods, services and tourism industries, if the crisis were to exacerbate.
Paiboon added that the flood crisis overall would likely reduce GDP growth even further.
Meanwhile, the Monetary Policy Committee said if the flood crisis were to become more severe, it would hold an emergency meeting prior to the one scheduled for November 30, and it would be ready to reduce the key interest rates. (TNA)
BOT Assistant Governor for Monetary Policy Paiboon Kittisrikangwan said the BOT estimated the flood crisis had reduced Thailand’s GDP growth to 2.6 percent from 4.1 percent, a decrease of 1.5 percent or 140 billion baht based on data up until October 19, 2011.
However, the estimate did not take into account the damage to the Banggadee Industrial Estate, or the opportunity losses in the goods, services and tourism industries, if the crisis were to exacerbate.
Paiboon added that the flood crisis overall would likely reduce GDP growth even further.
Meanwhile, the Monetary Policy Committee said if the flood crisis were to become more severe, it would hold an emergency meeting prior to the one scheduled for November 30, and it would be ready to reduce the key interest rates. (TNA)
