Manila-based multilateral lender Asian Development Bank (ADB) said on Wednesday that the economic performance of Southeast Asia, including the Philippines, will be negatively affected by the damages brought by typhoons, particularly Super Typhoon Yolanda.
In a supplemental release of ADB’s Asian Development Outlook, the multilateral agency said that the economies of the Association of Southeast Asian Nations five (Asean-5) would drop 0.1 percentage point in terms of gross domestic product (GDP), because of Yolanda and the “political turmoil” in Thailand.
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