In a nationally televised address on September 8, Yingluck described the three stages of the program as rescue, restore and rebuild. Thailand will emphasize efforts to restore the confidence of international investors, and to help those Thais who have suffered losses, including small and medium enterprises, she said.

Yingluck also announced she has canceled plans to attend this week's Asia Pacific Economic Cooperation forum in Hawaii in order to stay home and address the crisis.

Recovery efforts have already begun in parts of central and northern Thailand, where floodwaters have receded after inundating vast areas for months. However the water continues to threaten areas outside the flood walls surrounding Bangkok, where many residents are running out of food.

Financial analysts say the flooding is expected to have a major impact on Thailand's economy, not least on its vital tourism sector.

Officials say the flood crisis in Bangkok is expected to continue for another month. They say 527 people have been confirmed dead by the flooding so far.