Tuesday, November 19, 2013

The Cost of Haiyan




Counting the Cost examines how the typhoon will impact the Philippines' economy.


This week on Counting the Cost, we look at Typhoon Haiyan and the enormous task of dealing with its aftermath. Damage, clean-up, recovery - what is it going to cost the Philippines and what do past disasters tell us?

There is the immediate concern of getting food, water and shelter to those affected by the typhoon. At week's end, there were still islands where people said they had had no help at all.

More than nine and half million people - about one-tenth of the Philippines' population - were affected.

The international community pledged tens of millions of dollars to the aid effort but damage to the infrastructure has made it difficult to get aid and services through to the needy.

But there are also long-term effects: Many fear that the typhoon's impact could slow the entire Philippines economy, an economy that has been expanding at a rapid clip - 7.6 percent in the first six months of this year. The affected region accounts for 18 percent of GDP, most of it agricultural. Around $324 million could be lost from the region's agricultural and fishing industries.

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