Frost estimate the country GDP drop to 0.5-1.5%

Frost estimate the country GDP drop to 0.5-1.5%

According to Frost’s estimate early this year that the country GDP would grow at 4%, however due to the floods around the country and especially in Bangkok, which causing more than 100K Million Baht damage, the GDP growth in the 4th quarter would drop to 0.5-1.5%, which makes Thailand achieve GDP growth for year 2011 only 3.1-3.5%.

Dr. Monsinee keeratikrainon, Country Manager, Frost & Sullivan (Thailand) says that “The most impacted sectors would be Industrial and the effect would link to Service sector and also SMEs. To minimize the damage and impact on GDP by gaining confidence from businesses and investors, the Government should centralize the recovery work from all related agencies and associations while rolling out ‘national recovery plan’ with clear program details, implementation plan, timeline, and support given by each party/association as well as the measurement system to make sure the plan is effectively implemented.”

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