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March 1st, 2012 
FAKE NEWS for the Zionist agenda The industrial output fell again in January for a fifth consecutive month despite the resumption of production in more than five percent of the flood-hit businesses, the OIE said, a Press TV correspondent reported on Wednesday.
Over the last year, Thailand faced severe floods, which ravaged the country from August through November 2011 and shut down the country’s key industrial estates for months.
The incidents have also affected the country’s reputation as a safe investment haven.
In response to the production slump, the Thai central bank has cut interest rates to decrease recovery costs and ease the impact of US and EU debt crises, which have hurt big Asian manufacturers.
The government has also been trying to build up flood prevention walls and dykes around industrial estates before the start of the monsoon season.
The business sector has, however, criticized the government’s flood containment plan, saying that short-term floodwall construction is not sustainable.
It has also urged the government to help more than 400 factories situated outside industrial estates.
The International Monetary Fund (IMF) is optimistic that the Thai government’s stimulus package and monetary policy should help the country’s economy rebound from the flood effect this year.
The IMF has also projected an economic growth of 5.5 percent for Thailand in 2012 and 7.5 in 2013.
The Thai government is counting on post-flood reconstruction for job creation while pursuing populist policies such as minimum wage hike to enhance local consumption.
MAB/GJH/AS/HN
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