Oct. 13 (Bloomberg) -- The University of the Thai Chamber of Commerce cut its estimate for Thailand’s economic growth because of the rising cost of damage caused by flooding.
Thailand’s economy may expand by 3 percent to 3.5 percent this year, the university said today. Damage caused by the disaster may rise to 156.7 billion baht, the university said.
The university earlier estimated damage at 104 billion baht.
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