Private sector: This year’s flood impacts are smaller than in 2011

BANGKOK, Aug 7 (TNA) -- The Joint Standing Committee on Commerce, Industry and Banking says flooding this year is greater than that in 2011 but its impacts on businesses are small. JSCCIB chairman Predee Daochai said reserved water at nationwide dams was more than that in 2011 but damage should not be as great as that in 2011 because high reserved water was in the West and the Northeast. In 2011, flooding had happened in the North and the Central Plain where many industrial estates had been located, he said. Besides, Mr Predee said, storms in the rest period of the rainy season this year would not be as many as those in the same period of 2011. According to him, the Thai economy will continue to grow well due to exports, tourism, and increases in private consumption and farmers’ income. The JSCCIB predicts the economy will grow 4.3-4.8%, export value will rise 7.0-10.0%, and inflation will run at 0.9-1.5% this year. Mr Predee warned that the impacts of trade disputes between the United States and China on Thai exports could be worse next year if the US and China expanded and raised their tariffs. Besides, currencies in the region could be weaker in accordance with yuan then, he said. (TNA)