Philippines' Q4 growth to be dampened by typhoons, official says

Agricultural damage weighs down ability to meet full-year target of 6-7%

20241129 Philippines typhoon

Super typhoon Man-Yi flooded farmland in Quezon, Nueva Ecija province, the Philippines, on Nov. 18. © Reuters

RAMON ROYANDOYAN, Nikkei staff writer

MANILA -- Devastating typhoons that ravaged the Philippines in recent weeks left behind significant agricultural damage that will keep throttling economic growth in the final quarter of 2024, the head of the country's economic planning agency said.

"You cannot control typhoons," Arsenio Balisacan, secretary of the National Economic and Development Authority, told Nikkei in late November. "Unfortunately, those typhoons came in succession, and the impact of those on the gross domestic product for agriculture was sharp."

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