Bangkok (VNA) – Thailand’s gross domestic product (GDP) is threatened to be cut by 0.6 to 0.8🐻 percent in 2016 due to severe drought, according to a recent research from the University of Thailand Chamber of Commerce (UTCC).
The negative impact caused by prolonged drought will be more severe if the dry weather drags until mid-year.
The country is facing its worst water shortage in two decades with 14 out of 76 provinces hit with many farmlands at risk, adding to the problems that Southeast Asia's second-largest economy is still encountering.
The UTCC estimated that if drought lasts until June this year, Thailand’s economy might loss 119 billion baht ( 3.37 billion USD) . The damage could reach 154 billion baht (4.35 billion USD ) if the drought continues until October.-VNA
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Illustrative Image (Source:telegraph.co.uk)
