Thai cabinet allocates $313 million for flood relief and tax breaks
Thailand's government approved a $313 million package to aid flood victims, adding tax relief and duty exemptions after severe rains devastated Bangkok.
The cabinet signed off on a $313 million relief fund to support those affected by recent floods, supplementing earlier assistance that exceeded five billion baht. A finance ministry official said the plan also includes tax cuts and customs duty waivers for victims. In September, Bangkok was declared a disaster zone after three days of rain that delivered nearly 300 mm, a month's worth in a short span.
The floods disrupted car manufacturers and parts suppliers and caused at least 80 deaths. The Bank of Thailand's deputy governor warned the damage would not markedly slow the economy, which is projected to grow at least 2.3% this year.
Why it matters
The aid package helps thousands of flood victims and signals the government's response to climate-related disasters.
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