MIKE WOOTTON
MIKE WOOTTON

I’m still uncertain as to my re-action to the news reported in this newspaper from an organization called Citi Research that the rehabilitation work following the Yolanda tragedy could “boost the Philippines economic output by 2.2 percent.” Now what should we make of such a bullish type of statement? “Great, GDP will improve because there will be a big spend, a reported P170 billion, on creating jobs and buying construction materials the national average income will improve and overall demonstrate economic development progress.” Or should we say “Who are these people that are trumpeting improvements in economic indicators thanks to human suffering in a calamity that left over 6,000 dead and 4.1 million displaced? Most normally GDP effects of calamities are negative aren’t they? Are we to assume that the P170 billion allocated would not have been spent were it not for the Yolanda disaster?”

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