International risk assessment firm Kinetic Analysis Corp. (KAC) said on Tuesday that the Philippine economy may suffer $12-billion to $15-billion worth of damages (P523 billion to P654 billion) from Super Typhoon Yolanda (international codename: Haiyan).
Charles Watson, research and development director of KAC, said in a Bloomberg article that the Philippines sustained “catastrophic” damage estimated from $12 billion to $15 billion, which can have a great negative effect to the country’s quarterly gross domestic product (GDP) figures.
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