UTCC puts losses from southern floods at more than Bt22 bn
Play
The flooding in the South is expected to cause losses of Bt22.36 billion, while businesses in the affected provinces will need about two months to recover, according to a survey by the University of the Thai Chamber of Commerce.
Thanavath Phonvichai, director of the UTCC’s Economic and Business Forecasting Centre, said that for the nation as a whole, the floods should not have a major impact, lowering the Kingdom’s economic growth by 0.1 percentage point, so the growth forecast of 3.54 per cent this year should be met.
However, gross domestic product in the Southern region will fall short of the previous growth forecast of 3.2 per cent, reaching only 2 per cent.
