Storms cost Philippines 1-2 pct of GDP: stock analyst

MANILA - A stock analyst said storms historically cost the Philippines around 1 percent to 2 percent of its gross domestic product. 

Philam Asset Management’s Junie Banaag said this could be at least P195 billion, or already thrice the cashflow of the country’s largest conglomerate - SM investments. 

However, he said this can be offset if the government spends enough on rebuilding efforts. 

Meanwhile, Banaag sees the local equities market pulling back soon.