Flood economic damages estimated at over 15.7 billion baht

The Kasikorn Research Center says damage to the national economy caused by the ongoing flood crisis could amount to more than 15.7 billion baht or 0.1% of GDP in total.

This figure does not include damages to property and basic infrastructure such as roads and bridges among others, it said.

The center also estimated that the damage to the agricultural sector alone will exceed 12 billion baht. The worst-hit provinces are Sakon Nakhon, Maha Sarakham, Si Sa Ket, Nakhon Ratchasima and Kalasin.

Meanwhile, Treasury Department has announced that it will be helping flood victims in their recovery by allowing rent payments to be deferred for up to 2 years.

Treasury Department deputy director-general Amornrat Klumplob said that treasury officials have been ordered to carry out an immediate survey of damages to properties currently being leased that have been flooded.

For properties leased as dwellings or residences that have suffered partial flooding, she said, the Treasury Department will grant a one year exemption on rent collection.

For homes that have suffered total damage and conditions are unlivable, rent payments could be postponed for two-years.

But this does not apply to homes that have been completely inundated but not suffered a total loss and can still be lived in after the flooding.

The survey by the Treasury Department thus far showed that in 11 provinces which were flooded, there are more than 3,000 afflicted tenants, half of them are in Sakon Nakhon.

With regards to properties leased for agricultural purposes, she said if crops have been lost to the floods, the department will allow one year exemption on rent collection to help recovery.

Flood economic damages estimated at over 15.7 billion baht - Thai PBS English News