The Philippines under the threat of natural catastrophes

According to a philipino governmental entity, natural catastrophes would cost the local economy about 206 billion PHP (4 billion USD). Some studies have evaluated this impact at 0.5 or even 0.6 point of GDP.

The World Bank; which is however on a more downbeat note, considers the losses to be comprised within the 4.5% to 6.5% bracket of GDP, that is 341.7 billion PHP to 493.6 billion PHP (6.9 to 9.9 billion USD).

Between 2011 and 2015, climate change caused the country’s agriculture losses estimated at 163.6 billion PHP (3.5 billion USD).

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