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||15 November 2009
Philippines: Typhoons dent GDP target
Despite possible gains seen in the aftermath of typhoons Ondoy and Pepeng, the National Statistical Coordination Board (NSCB) believes the 1.8-percent high-end full- year official growth projections may no longer be feasible, local daily Business Mirror reported.
Based on three growth scenarios, NSCB Secretary-General Dr. Romulo Virola said without typhoons Ondoy and Pepeng, annual growth rate could go as high as 2 percent, but with the typhoons, which together cost the country around 38.32 billion peso, the growth in gross domestic product (GDP) could settle at a maximum level of 1.3 percent.
The NSCB said Ondoy cost the country around 11.12 billion peso while Pepeng cost 27.2 billion peso. By region, Central Luzon suffered the most with 32.2 percent of the total damage followed by the Ilocos region, 31.5 percent; Cagayan Valley, 12.2 percent, and the Cordillera Autonomous Region (CAR), 10.3 percent.
Data from the National Disaster Coordinating Council show the biggest amount of damage was on crops, livestock, fishery and agricultural facilities—all estimated to be about 27.2 billion peso.
Damage to roads and bridges, flood- control structures, health facilities and schools was estimated at 11.1 billion peso.
Ondoy and Pepeng together damaged 212,918 houses, most of which were in Calabarzon with 90,482 houses, followed by Metro Manila with 65,521 houses, the Ilocos region with 25,437 houses, Cagayan Valley, 18,502 houses, and CAR with 8,186 houses.
Ondoy damaged a total of 1,382 schools mostly in Calabarzon; and Pepeng destroyed 1,453 schools, mostly in the Ilocos region.
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