Storms, floods to cost PHL $124 billion by 2050

2022-09-01T15:19:11+08:0031 Aug 2022|Tags: , , , , , , , , , |

STRONG STORMS, heavy flooding and prolonged droughts may result in around $124 billion in losses to the Philippine economy between 2022 and 2050, according to research firm GHD. This translates to an average annual gross domestic product (GDP) loss of 0.7% for the Philippines, GHD said in a statement following the release of its report “Aquanomics: The economics of water risk and future resilience.”