Heavy floods in the northeastern region of Thailand have caused losses worth of 15.7 billion THB (0.47 billion USD), equivalent to 0.1% of the country’s gross domestic product (GDP), according to the Kasikorn Research Centre.

Flooding in Thailand's northeastern province of Sakon Nakhon on July 31 (Photo: EPA/VNA)

This figure did not include damage to property and basic infrastructure such as roads and bridges among others, the centre said.

It also estimated that the damage to the agriculture sector alone exceeded 12 billion THB, adding that the worst-hit provinces were Sakon Nakhon, Maha Sarakham, Nakhon Ratchasima and Kalasin.

The Treasury Department said it will help flood victims in their recovery by allowing rent payments to be deferred for up to two years and grant one year exemption on rent collection for properties leased as dwelling or residences.

It has also conducted a survey on property losses to provide appropriate financial aid to different types of victims.

(Source: VNA)