‘Yolanda’ won’t affect GDP

The country’s economic performance would not be affected with the destruction caused by Super Typhoon Yolanda, with the gross domestic product (GDP) projected to hit at 7 percent at the end of the year.

During the Philippine Economic Society’s (PES) 51st annual meeting on Friday, Budget Secretary Florencio “Butch” Abad, University of Santo Tomas economist Alvin Ang and Finance Undersecretary Gil Beltran all said that the country’s GDP growth could still reach 7 percent this year.