The drought-stricken Kwan Phayao Lake in Phayao province in northern Thailand last month. Sarot Meksophawannakul
Drought, floods and other extreme weather exacerbated by climate change could cause damage worth 36 billion baht to the Thai economy this year, says the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB).
Water scarcity caused by drought is the committee’s leading concern because it could have a massive impact on both the agricultural and manufacturing sectors, hampering already sluggish exports, said Kriengkrai Thiennukul, chairman of the Federation of Thai Industries (FTI), a key member of the JSCCIB.
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