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Thai Flood Waters Finally Receding; $3 Billion Reconstruction Expected

NICOLAS ASFOURI/AFP/Getty Images(BANKOK) -- The Thai government is confident floods that have devastated large parts of the country have been stopped from reaching Bankok, after huge efforts by the people there to build up sandbag barriers.

North of the country's capital, flood waters finally have begun to recede.  

Still, authorities say the country's worst flood in nearly 50 years has claimed the lives of at least 307 people. Hundreds of thousands more have been left without jobs.

Prime Minister Yingluck Shinawatra said deconstruction of areas affected by the massive floods could cost more than $3 billion, according to the Wall Street Journal.

Copyright 2011 ABC News Radio

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