FLOODING
Cost of deluge estimated to be 'massive'
Govt looking to borrow heavily from overseas
- Published: 18/10/2011 at 02:14 AM
- Newspaper section: News
The massive flooding will reduce the country's economic growth by up to 1.7 percentage points the government said yesterday.
The government is planning to obtain overseas loans of up to 500 billion baht to finance flood prevention projects.
Finance Minister Thirachai Phuvanatnaranubala said the floods this year have been especially severe. Although damage evaluation is still not clear as the flooding is far from over, the National Economic and Social Development Board (NESDB) and the Bank of Thailand have initially estimated the disaster would affect economic growth this year by 1 to 1.7 percentage points.
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About the author
- Writer: Chatrudee Theparat & Parista Yuthamanop
