Video: Continued flooding wreaks havoc on Thai economy

The Bank of Thailand (BoT) lowered its Gross Domestic Product (GDP) growth projection for 2011, significantly owing to the widespread flood in upper part of the country, Mass Communication of Thailand (MCOT) reported.

Assistant BoT Governor Paiboon Kittisrikangwan said that the BoT decided to lower GDP projection from 4.1 to 2.6 percent, factoring in the country’s estimated 140 billion baht (4.5 billion U.S. dollars) damage losses, owing to the widespread flood. Paiboon explained that the floods have affected manufacturing activities at six industrial estates in the central provinces of Ayutthaya and Pathum Thani.

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