Transcript ISSUES

ISSUES
1. REPORTING
• Limited damage assessment i.e. a)
casualties; b) damage to agri; and c) infra
damages
• Not all private business losses are reported
• Limited report on production capacity
losses and labor displacement
ISSUES
• Reflecting losses on GDP accounts will not
be realistic
• At present, we deduct the agricultural
damages to the projected harvest
ISSUES
2. VALUATION
• Over estimation of losses
• Inconsistencies i.e. construction cost or
replacement cost?
• No accurate data on economic value of
goods and services utilizing certain
infrastructure like bridges
ISSUES
• Difficulty in putting values on certain goods
and services like hospitals, water supply
• Inflation may be offset by imports and
domestic trading
ISSUES
3. COUNTER EFFECT OF RESPONSE TO
GDP AND GNP
• Difficulty in attributing the effects, i.e. lost
forex from exports firms but OFW
remittance may increase offsetting impact
• Production losses may be offset by
disaster response like public works and
emergency employment schemes
ISSUES
4. COMPUTER MODEL
• A computer model may be needed to
• a) Calculate with a higher level of
accuracy the impacts
• b) Simulate future socio-economic impact
of disasters
• This will enable policy makers to decide
on preparedness and mitigation measures