ID :
431906
Fri, 01/13/2017 - 06:29
Auther :

Southern floods have minor impact on Thailand's GDP in 2017

BANGKOK, January 13 (TNA) - Receding massive floods in the Thai South are likely to slighly affect the country's overall gross domestic product (GDP), which is still forecast to grow by about 3.6 per cent year-on-year in 2017. Thanawat Phonvichai, Director of Bangkok-based University of the Thai Chamber of Commerce's Center of Economic and Business Forecasting,told journalists of the assessment on Friday, saying although the latest inundations in the Thai South have been initially estimated to cause damages to the local agricultural, business and industrial sectors, as well as households, roads, railways, bridges and other basic infrastructure totally worth more than 22.37 billion baht, the local economy of the southern region accounts for only 8.6 per cent of Thailand's overall GDP. Thanawat stressed that the widespread and latest floods in the Thai South are, thus, likely to affect only 0.1 per cent of the country's overall GDP this year. According to the senior Thai economist, his center has, therefore, maintained its earlier projection that the country's GDP growth in 2017 should stand at about 3.6 per cent year-on-year. (TNA)

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