Last Updated : 2019-07-17 06:20:00

Philippines says typhoon rebuilding cost may be up to $5.8 billion

19 November 2013 10:28 am - 0     - {{hitsCtrl.values.hits}}

A A A

The cost of rebuilding houses, schools, roads and bridges in typhoon-devastated central Philippines could reach 250 billion pesos ($5.8 billion), making it likely that the government will seek cheap loans from development agencies, a senior official said on Tuesday.

If the government is successful in deploying resources for post-typhoon reconstruction, the economy may even grow faster, said Arsenio Balisacan, economic planning secretary, adding the country's strong economic fundamentals remained intact.

"I would not be surprised if it can go as high as 250 billion," Balisacan told Reuters, commenting on the likely cost of reconstruction.

(Reporting by Karen Lema; Editing by Simon Cameron-Moore)

(Source : Reuters)

  Comments - 0


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment


Sri Lanka yet to play to their potential--Rumesh Ratnayake

After England amassed 397 runs against Afghanistan—the highest in the tourn

Dinesh Chandimal- 2018 ODI Captain to 2019 World Cup ‘spectator’

In 2018, Dinesh Chandimal scored 298 runs at 42.52 in One-Day Internationals

Singling out of Rishad Bathiudeen as a political target

The orchestrated political campaign by the Mahinda Rajapaksa-led opposition i

TWISTS AND TURNS in the Dr. Shafi controversy

The sterilization charges against Dr. Seigu Shihabdeen Mohamed Shafi from the

MIRROR CRICKET