Impact of floods ‘manageable’
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THE southern flooding should inflict losses of not more than Bt15 billion, not enough to derail the country’s economic growth this year, according to the Joint Standing Committee on Commerce, Industry and Banking.
“The inundation in the southern provinces should have only a passing impact on the economy. Overall, the Thai economy is expected to grow stronger from last year to 3.5-4 per cent this year,” Isara Vongkusolkit, chairman of the Thai Chamber of Commerce and of the joint standing committee, said Monday after the monthly meeting of the committee.
Private firms in the South have told the committee that the flood has not yet damaged factories or equipment, but mainly roads and other transportation routes.
If the water recedes soon, it should not cause a huge loss to the econo?my. However, timely government spending to repair roads and rail?ways is needed to help the economy recover in the South, the committee believes.
