Bikers walk a flooded portion of R-10 road in Navotas, Nov. 12, 2020. Fernando G. Sepe Jr., ABS-CBN News
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.
natural disasters effect on economy, calamity impact on economy, stock analyst, ANC